- River and Mercantile Group said its assets under management increased by 6% in the fourth quarter to £32.6bn.

Inflows were £2.5bn, including £1.7bn of sales, while investment performance generated £0.5bn and was positive across all divisions, the company said.

Performance fees earned in the six months through December were estimated to be in the region of £7m, while net advisory fees were estimated to be around £5m.

'Equity markets have seen relatively strong performance, which has supported the growth of the Equity Solutions division during the half,' chief executive Mike Faulkner said.

'Our pipeline remains robust, and we are seeing strong demand in the local government pension sector for our derivatives services. We believe we are well placed to compete for business here, particularly as the sector consolidates into pools.'

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