A global investment management group, managing assets for both institutional and retail clients from offices around the world. I have a holding in my income portfolio (epic code: ADN).
New business flows for the quarter were affected by the withdrawal by a single client of approximately £4bn of low margin AuM from their Asia Pacific and global equities strategies during the quarter.
Management state that they have continued to win new mandates which will be funded by clients in future periods, with over £2bn of mandates awarded but not funded at 30 June.
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