Investec rings up 63% profit

Investec Asset Management has announced a 63% rise in profits from 36.3m to 59.4m from April 1, 2005, to March 31, 2006. Assets under management increased by 38.1% to 31.7bn. UK operations achieved net inflows in excess of 1bn. Global net inflows amounted to 443m. Investec says the increase follows substantial net inflows into higher fee paying mutual funds.