Partners Group ups 2010 inflow view on strong H1

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Mon Sep 6, 2010 3:01am EDT

* AuM rise to 20.1 billion euros ($27 billion) at end H1 * Had net new money of 1.9 billion euros in H1 * First half adjusted net profit up 84 pct

ZURICH, Sept 6 (Reuters) - Swiss alternative asset manager Partners Group (PGHN.S) has raised its expectations for new fund inflows this year after a strong first half for new clients pushed assets under management to over 20 billion euros ($26.8 billion) for the first time.

Net revenue surged 21 pct to 192 million Swiss francs ($180 million) as margins improved and income from private real estate and private debt programmes jumped, propelling the group to a 156.6 million francs adjusted net profit, up 84 percent from a year earlier, it said on Monday.

Assets climbed to 20.1 billion euros, up 12 percent compared to the end of 2009, with 1.9 billion euros in net new money on the back of a strong contribution from new clients, as existing clients also added money and investment values climbed.

Total inflows were 2.1 billion euros with withdrawals amounting to 0.2 billion euros, the bulk of it in the Alternative Beta hedge fund replication unit which the group span off in the first half.

The group said in a statement it expects 4 billion euros of inflows ($5.37 billion) for 2010.

That is up from previous estimates, when the group said it expected 4 billion to 5 billion Swiss francs ($3.75 billion to $4.68 billion) of new client money in 2010, with inflows from Asia driving growth. [ID:nLDE62E08Z] ($1=.7453 euros) ($1=1.068 Swiss francs) (Reporting by Zurich newsroom; Editing by Greg Mahlich)

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