StockMarketWire.com - AIM-listed Titanium Asset Management has posted a 4% increase in managed and fee paying assets to $9,490.2m in the first quarter to March 31, 2010.

Revenues of $5,550,000 was a 7.5% increase over the same period, last year.

The adjusted EBITDA deficit was $690,000 compared to $994,000.

Net loss was $1,270,000, or $0.06 per common share against $1,541,000, or $0.08p for the first quarter 2009.

Robert Brooks, CEO, stated: 'We are optimistic that the momentum we are experiencing will continue to drive additional growth in fee paying assets.

Performance in our primary products has been consistently above benchmarks and bodes well for future sales.'


Story provided by Business Financial Newswire