Assets under management and advice at the end of June amounted to R64.9bn, a 13% increase from the end of December
Anchor Group, which provides private client, asset management and stockbroking services, says it saw record new inflows in its six months to end-June, which offset poor equity market conditions.
Assets under management and advice stood at R64.9bn at the end of June, up 13% from the end of December, the group said in a trading update. The group expects adjusted headline earnings per share for the period to be in a range of a decrease of 2% up to an increase of 14%. Heps is the group’s preferred performance measure, which it says reflects sustainable cash flow and is used to determine dividend payments.
Heps is expected to fall by between 66% and 71% from the prior comparative period, when it saw a one-off termination fee earned in respect of the Astoria investment management agreement of R70.4m.
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