London · Delayed Price · Currency is GBP · Price in GBX Record Earnings Call Transcripts
Fiscal Year 2026
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FY26 revenue fell 4% and EPS was 3.92p, while AUM rose 14% to $114.6bn. Private markets expanded, and management expects FY27 revenue growth, supported by new mandates and continued fund deployment.
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AUM reached a record $110.3B, but revenue and profit declined due to mandate losses and lower fees. Private Markets and Solutions for Asset Managers are driving growth, with a strong balance sheet supporting ongoing transformation and dividend stability.
Fiscal Year 2025
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Leadership strengthened and new product pillars launched, with private markets and risk management driving growth. Despite an 8% revenue drop, cost control led to higher EPS and dividend. The business is well-positioned for long-term growth, especially from private markets.
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FY25 saw solid results amid management transition, with AUM above $100B, revenue down 8%, and EPS up 4%. Growth in risk management and private markets offset declines in absolute return, while a strong balance sheet supported a higher dividend.
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AUM reached a record £106bn, while H1 management fees fell 3% amid a major mandate restructure. Over €1bn of infrastructure fund commitments and ongoing investment advance the strategy; H2 fees and expenses are expected to track H1 run rates.
Fiscal Year 2024
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AUM reached a record $102.2B, up 17% year-over-year, with revenue up 2% and strong performance fees. Strategic focus narrowed to six core products, digital asset efforts discontinued, and a GBP 1.9M IT impairment recognized. Underlying operating margin held at 32%.