AFH sees funds under management top £1bn
BROMSGROVE financial services group AFH announced this morning that its funds under management have exceeded £1bn.
The financial planning-led investment management firm, revealed the news in an announcement to the London Stock Exchange.
Over the past 12 months AFH has completed seven acquisitions which have brought in an estimated £135m in funds under management and in excess of £700,000 of recurring income.
Since AFH listed on AIM in June 2014, in excess of £100m of funds under management has been added through the acquisitions of Knight O’Byrne, Finlay Gow & Company and Hindsight Financial Services.
Alan Hudson, chief executive of AFH, said: “We are pleased to have broken through the £1bn FUM figure at the start of 2015 – a significant milestone for the company’s development and in the journey towards AFH becoming one of the UK’s leading IFAs .
“We remain well positioned to take advantage of IFA market consolidation and, at the start of 2015, the company’s acquisition pipeline is strong and focused on both small and larger IFAs looking to benefit from being part of a wider listed group.
“AFH remains well funded to pursue opportunities, particularly following the successful first closing of the loan note issue as previously announced, and we look forward to keeping shareholders updated.”
