StockMarketWire.com - Investec's asset management and wealth and investment businesses have continued to see net inflows in the three months to the end of June.

And the group says tghey have benefited from higher average funds under management, with both divisions recording results ahead of the prior year.

The specialist banking business reported results behind the prior year (flat on a neutral currency basis) largely due to lower activity levels from the weak trading environment and the weakness of the Rand. Overall results have been affected by the depreciation of the average rand:sterling exchange rate of approximately 13%. Total operating income (excluding depreciation on operating leased assets) is 4% ahead of the prior year and impairment losses on loans and advances decreased by 6%.




Story provided by StockMarketWire.com