9 July 2019 – trading update

The fund management group has announced that at the end of June its assets under management were £6.7bn compared with £6.8bn a year earlier, although there was a net inflow of funds of £133m during the year.  The overall decline in funds under management was due to the fall in markets over the year.  The quarterly dividend for the three months to 30 June was raised to 1.7p from 1.65p the year before.  We maintain our view that the shares are ATTRACTIVE.