Rensburg Sheppards ‘well placed’ for growth

WEALTH manager Rensburg Sheppards today said it was well placed for the future as equity markets continue their recovery.

In a trading statement for the period October 1 last year to January 27, chief executive Steve Elliott said:”Rensburg Sheppards continues to be soundly financed and cash generative.

“Whilst markets in the first few weeks of 2010 have remained uncertain, we believe that the strong base from which Rensburg Sheppards operates leaves the group well placed for the future”.

For the three months to December 31, Rensburg, which has offices in Liverpool and Manchester, saw total funds under management increase by 1.5% to £12.3bn.

Investment management fees and commissions went up 21.4% and 27.1% respectively, while total net revenue increased by  3.5%.

Mr Elliott said equity markets continuing their recovery during the period had boosted Rensburg’s operating environment.

Rensburg also completed the disposal of Mayflower Management Company, a subsidiary which managed a charity property fund, for £1.9m.