IAM's Financial Overview and Growth Strategy
Summary financials (page 1 of 2)
£m, unless stated
Closing AUM (in £bn)
Average AUM (in £bn)
Management fees
Management fee rate (bps)
Performance fees
Foreign exchange (losses) / gains and other income
FY18
FY19
% Change
103.9
111.4
7%
109.2
120.8
HY19
HY20
% Change
11%
99.6
108.0
8%
107.9
117.8
9%
495.4
524.6
6%
263.8
283.1
7%
49.7
48.6
48.8
47.9
18.4
11.0
(40)%
5.2
5.8
13%
(3.2)
5.1
n.m.
4.2
3.5
(17)%
510.6
540.6
6%
273.2
292.4
7%
Operating revenue¹
Operating expenses
1,2
(339.2)
(368.1)
9%
(185.1)
(198.3)
7%
Operating profit (pre-Silica and exceptional items)
171.4
172.5
1%
88.1
94.1
7%
Operating profit margin³
33.6%
31.9%
32.3%
32.2%
FTES (#)4
1,059
1,139
8%
1,088
1,147
5%
37
Notes: Numbers may not sum due to rounding. 1. Operating revenue and operating expenses exclude gains on the deferred employee benefit scheme and the equivalent expense (£4.8m in FY19; £1.5m in FY18; £4.3m in HY20; £3.8m in
HY19); 2. Operating expenses for September 2019 include interest expense on lease liabilities of £1.4m under IFRS16 to ensure a like-for-like comparison with prior periods; 3. Operating profit margin excludes net interest income, Silica profit
and exceptional items; 4. Number of FTEs excludes Silica employees (490 at FY19, 533 at FY18, 485 at HY20 and 512 at HY19).View entire presentation