- Investec, a specialist bank and asset manager, has reported that operating profits for the year ended March 31 2014 are expected to be marginally ahead of last year.

Its results from its Wealth & Investment division are expected to increase substantially and asset management is set to report results moderately ahead of the prior year.

Both divisions have benefited from higher levels of average funds under management supported by net inflows of £1.1bn and £2.5bn respectively.

The South African specialist banking business is likely to report results substantially ahead of the prior year in rands, whilst the UK specialist banking business is also expected to report results well ahead of the prior year as a result of a significant decline in impairments.

The Australian business has been impacted by strategic restructuring. Consequently, the global specialist banking business is forecast to report results marginally ahead of the prior year.

Overall group results have been negatively impacted by the depreciation of the rand.

At 11:06am: [LON:INVP] Investec PLC share price was -0.95p at 445.35p

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