Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Cheviot Assets surged ahead of Quilter deal

Cheviot Assets surged ahead of Quilter deal

Cheviot Asset Management went into its merger with Quilter on the back of strong asset growth but declining profits.

According to the group’s full-year results posted at Companies House last week, the company posted a 15.7% rise in assets under management (AUM) from £3.6 billion to £4.2 billion in 2012, its last year as a standalone business.

Around half of the increase in AUM was due to ‘market movements’, with £315 million coming on the back of ‘significant new customer growth’, the accounts said.

This generated a 13% increase in revenue to £32 million, but profits fell by 16% to £233,000, which the group blamed on ‘volatile’ financial market conditions.

Cheviot AM was launched in 2006 by Michael Kerr-Dineen (pictured), with a team from UBS following him across.

The firm merged with Quilter in October last year and the deal was completed on 18 January 2013, creating a group with a combined AUM of £14.2 billion. The combined group adopted the Quilter Cheviot brand in July.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter