Fund management company Absolute Capital Management Holdings has increased its assets under management by 165 per cent since 30 June 2006 to USD3.25bn.
Fund management company Absolute Capital Management Holdings has increased its assets under management by 165 per cent since 30 June 2006 to USD3.25bn. The increase in AUM since the start of 2007 stands at 110 per cent.
ACMH, which focuses on delivering investment returns through the management of absolute return equity and debt funds, has also seen management and performance fees increase by 139% and 148%, respectively, compared to the 6 months to 30 June 2006.
The company has made substantial progress in building a portfolio of absolute return funds, with ten of its 12 funds are now holding in excess of USD100 million.
ACMH also reports the successful integration of Argo Capital Management, which it acquired in January 2007, adding significant product diversification and revenue from debt/finance opportunities in emerging markets. A new division Absolute Capital Management Property Limited (ACMPL) has also been created to develop a long/short equity presence in the global real estate market, through managing the AIM listed North Real Estate Opportunities Fund.
In addition ACMH has developed an in-house client services team in Europe and North America to distribute the growing range of absolute return funds.
To manage the increased size and continued growth of the business, ACMH has appointed a Chief Operating Officer and separated the role of Chairman and Chief Executive.