INVESTEC ON THE CHARGE AS PROFITS SHOOT UP

INVESTEC saw UK half-year profits rocket 40%, mainly thanks to a doubling of profits at its UK specialist bank — hit last year by charges on its legacy lending portfolio. Overall profits in the banking unit rose 18.8% to £245.4 million. The AngloSouth African firm’s asset management arm saw net inflows of £4.1 billion — taking total assets under management to £109.2 billion.