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Kleinwort Benson Investors Reports Robust Profits For 2014

Amisha Mehta

30 March 2015

, part of BHF Kleinwort Benson Group, almost tripled its operating profit year-on-year to €7.4 million ($8.1 million) in 2014.

The Dublin-based asset manager boosted its consolidated revenue to €24.6 million last year, up 58 per cent from 2013.

Meanwhile, assets under management grew from €5.4 billion in 2013 to €6.9 billion, as operating margins were pushed up from 16 per cent to 30 per cent in 2014.

KBI, originally focused on the Irish market, noted strong international interest in its global and environmental equity strategies. Its North American clientele gained particular momentum over the past year and currently makes up almost half of its current pool of assets, KBI said in the results statement.

The firm has been busy bulking up its sales teams in San Francisco, New York and Boston. It also holds investment mandates in Asia, where it subadvises the Nikko AM Global Dividend Equity Fund and the Nikko AM Global Dividend Equity Fund in Japan.

“As a relatively modest sized asset management boutique, based in Dublin, away from the noise of London and New York, it is gratifying to see the momentum we have managed to build over the past two years. However, our recent success has been a while in the making, and is no overnight success,” said KBI's chief executive, Shaun Hawkshaw.