Kleinwort Benson Investors (KBI), the Dublin-based asset management boutique, has recorded a 58% increase in revenues for 2014.
Its consolidated revenue grew to €24.6 million last year, while its operating profit increased by almost three times to €7.4 million, from €2.3 million in 2013.
KBI, part of the BHF Kleinwort Benson Group, saw its combined assets under management (AUM) rise to €6.9 billion last year, representing a €3.3 billion uplift from its 2012 figure.
The firm puts its success down to an increasing share of the North American market, which represents over half of its AUM. The firm has also recently won mandates from a number of investors in the public funds arena, including the Los Angeles Fire and Police Pension Fund, the Tulare County Employees’ Retirement Association, Fonds de Compensation and the Shetland Islands Pension Fund.
“Our recent success has been a while in the making, and is no overnight success. We made a bold call ten years ago to grow our business on an international footing, and to offer specialist actively managed equity strategies,” says Sean Hawkshaw, chief executive officer at KBI.
During the first quarter of this year KBI launched a closed-end fund on the Toronto Stock Exchange in conjunction with BMO Capital Markets. The firm has also made a move into the US mutual funds market with the recent launch of a global resources equity fund, in partnership with Virtus Investment Partners.
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