Martin Currie enjoys sales and assets boost

Martin Currie, the Edinburghbased funds house which is now owned by US investment giant Legg Mason, saw assets under management (AUM) soar by more than 50 per cent last year.

The company, headed by chief executive Willie Watt, said the continuing success of its Australian operation in attracting inflows was a key factor in AUM growing to £14.5 billion in the year to 31 March 2017 from £9.3bn the previous year. The Australian business, established a decade ago, saw net inflows of more than £4bn during the year.

Revenues at the Martin Currie Group operation, which employs around 190 people, rose by 21 per cent to £55 million. The company said that it expected to see the full impact of the increase in assets during the current financial year.

In the accounts the directors also said they believed the “direct operational implications” in the short term for the business from the Brexit vote are limited.