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Mattioli Woods' discretionary funds climb to near £1bn

Mattioli Woods' discretionary funds climb to near £1bn

Mattioli Woods has pushed its discretionary assets under management close to £1 billion from just £190 million a year ago through a combination of acquisition and organic growth.

In full year results for the 12 months to June the company reported assets had risen to £750 million with a further £190 million being added after the end of the period.

More than £532 million was added organically and through client transfer from its advisory division, with a further £442 million from the acquisition of Atkinson Bolton and £7.1 million due to its appointment to manage pension fund HD Sipp.  

‘All acquisitions completed to date have not just been earnings enhancing but have also broadened and deepened our expertise and services,’ the company, headed by Ian Mattioli (pictured), said in a statement.  

‘We are confident there will be further opportunities to expand Mattioli Woods' operations by acquisition, further accelerating our organic growth.’ 

The company now administers total client assets of £4.63 billion, versus £3.64 billion in 2013. Revenue rose 25.4% over the period to £29.35 million driving earnings-per-share growth of 16.9%. It lifted its full-year dividend 30% to a total 6p.

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