WEALTHY clients are helping asset management groups Evolution and Collins Stewart to cope with volatile markets, they said.
Evolution said income and operating profitability had both risen so far this year, although it did not say by how much.
Assets under management at its private client division were up six per cent from December 2009 to £5.5bn, with net new fund inflows of £133m in the first quarter.
"The recent financial market turbulence is a reminder of how the short-term uncertainties stemming from the ongoing unwinding of the global structural imbalances may continue to provide challenging trading conditions for some time," Evolution said.
"The group is confident, however, that its growth plans remain on track."
Collins Stewart said revenue was up 12 per cent to £63.6m for the first four months of the year.
Assets under management at its wealth management business were £6.7bn pounds at April 30, up from £5.9bn at the end of 2009.
Its UK securities business was hindered by poor equity market volumes, while deal activity in its corporate broking business was pushed back due to the recent Parliamentary election.
City A.M. Reporter