By Anthony O. Goriainoff
Foresight Group Holdings Ltd. said on Wednesday that basic income and earnings before interest, taxes, depreciation and amortization for fiscal 2022 remained on target, and the outlook for future institutional fundraising also remained positive.
The London-listed infrastructure and private equity manager said several funds are expected to announce new fundraising in the second half of the year ending March 31.
The company said that for the six months ended September 30, estimated assets under management were £ 8.1bn (£ 11.04bn) compared to £ 7.2bn on March 31st. Foresight said this represented an annualized increase of 25% over the period, and that this was achieved solely through organic growth.
Funds under management stood at £ 6.0 billion as of September 30, an annualized growth rate of 34%, the company said.
Foresight said net inflows totaled £ 800million with strong retail inflows – particularly tax products – and by closings from several institutional funds.
“We have experienced substantial growth in FUM due to strong retail net inflows and further institutional fund closures. “the company said.
Write to Anthony O. Goriainoff at [email protected]