LONDON (ShareCast) - (Sharecast News) - Investment company Petershill Partners said on Wednesday that aggregate partner-firm assets under management had grown in the three months ended 31 March amid positive momentum.
Petershill said aggregate partner-firm AUM grew 14% in the quarter to $266.0b and was up 55% year-on-year.

The FTSE 250-listed group stated aggregate fee-paying partner-firm AUM was $184.0bn, growing 16% during the quarter and 33% year-on-year as gross inflows hit $28.0bn, realisations came to $3.0bn and mark-to-market increases were $1.0bn.

Petershill highlighted that the year had started with "positive momentum" and said it now expects full-year aggregate FP partner-firm AUM gross inflows to be consistent with its prior guidance of $40.0bn to $45.0bn.

For the twelve months ended 31 March, partner fee-related earnings were 24% higher and partner distributable earnings were 41% higher when compared to the same period a year earlier.

Petershill also noted that a 22% increase in management fees to $77.0m reflected the impact of growth in aggregate FP partner-firm AUM.

As of 1010 BST, Petershill shares were down 0.66% at 227.50p.



Reporting by Iain Gilbert at Sharecast.com

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