Italy's Azimut 9-mth net profit more than doubles on fees

MILAN Thu Nov 8, 2012 8:23am EST

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MILAN Nov 8 (Reuters) - Italian asset manager Azimut said on Thursday its net profit in the first nine months more than doubled on the previous year, driven by an increase in performance fees.

In a statement Azimut said its net profit in the period was 121.2 million euros.

Azimut, one of Italy's leading independent asset managers, said its assets under management at the end of September were 19.2 billion euros. (Reporting By Stephen Jewkes, editing by Antonella Ciancio)