BT Investment Management (BTIM) has posted a slight decline in funds under management (FUM) for the quarter ended 30 June 2012.
BTIM’s FUM fell $1.2 billion quarter-on-quarter to $33.2 billion for the June quarter, excluding J O Hambro Capital Management.
The financial services company cites $0.6 billion in outflows and a $0.6 billion fall in market performance for the FUM decrease, excluding J O Hambro.
Including J O Hambro, BTIM saw its FUM decline by $1.5 billion, from $45.8 billion at the end of March to $44.3 billion in June.
J O Hambro still had $300 million in net inflows, but was also negatively impacted by the markets.
“I think in the current environment, it’s not a bad result,” BTIM chief financial officer Cameron Williamson told InvestorDaily.
“We’ve managed to raise money in London in a very uncertain environment in Europe, and our business in Australia has held up fairly well.
“The biggest impact was the market, obviously the market fell about 6.5 per cent in that period. And offshore they had a similar fall as well. So the market impacts had the biggest impact on our FUM but at the same time our flows held up pretty well during that period.”
He said BTIM will continue to push its growth plans to improve its FUM going forward.
“We are always hopeful and just very focused on driving growth in our FUM through product and distribution channels that we have more broadly in London and Australia,” he said.
