Turnaround gathers pace at MAM Funds

THE turnaround at MAM Funds is continuing as it reported a rise of nearly a tenth in assets under management. The AIM-listed firm said funds rose nine per cent to £1.68bn for the half-year to 30 June, as it steered clear of the “index hugging mentality”. Revenue rose seven per cent on last year to £10.7m. The firm suffered during the financial crisis but said in April it had freed itself from restrictive banking covenants.