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 Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter