- Titanium Asset Management's results crashed during the year moving from a profit before tax of $723,000 to a loss of $11.33m for the year to 31 December 2008.

Fee income rose to 14.675m from 2.660m but costs were signficantly higher at $27.0m compared with $4.1m the year previous.Amortisation and impairiment of intangible assets accounted for $10.64m of this increased expense.