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Article: Isis Asset Management profits down 10% in first half of 2003.
- Article from:
- Financial News
- Article date:
- July 28, 2003
CopyrightCOPYRIGHT 2003 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ben Wright
Isis Asset Management, the UK fund manager, has posted a 10% fall in profits for the first half of the year, reflecting volatile stock markets, despite growth in total assets under management of [pounds sterling]800m ([euro]1.1bn) to [pounds sterling]60.8bn.The company was formed last year through the merger between Friends Ivory & Sime and Royal&Sun Alliance Investments. Its profits slumped from [pounds sterling]12.7m in the first six months of 2002, to [pounds sterling]11.4m this year.
Howard Carter, chief executive of Isis, said the poor stock market background had undermined sentiment, especially in the retail market. Isis has in ...