StockMarketWire.com - Titanium Asset Management Corporation posts a first half net loss of $2,086,000 - down from $2,736,000 last time.

The net loss in the second quarter fell to $816,000 - down from $1,195,000 a year ago.

Operating revenues for the six months to the end of June rose by 9.2% to $11,242,000.

Chief executive Robert Brooks said: "In the second quarter we continued our positive momentum with our average managed assets for the second quarter of 2010 increasing 11.4% over the prior year average and with our average distributed assets increasing 15.5%.

"As a result, revenue in the second quarter of 2010 grew by $559,000, or approximately 10.9% over the same period in 2009.

"While the equity markets have been quite volatile, the fixed income markets and our performance have been strong.

"With this strong performance, we believe we are well positioned to gain significant new fixed income business over the second half of 2010."




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