Foresight Group AUM ticks up as capital management arm suffers

investmentweek.co.uk:

While Foresight Capital Management shed 27% of its AUM falling by £348m to £1bn, the firm's infrastructure arm saw AUM rise 4% to £9.8bn, while its private equity arm's AUM rose 2% to £1.4bn.

Assets under management for the group ticked up slightly in its half-year results to 30 September, rising 1% to £12.2bn, while funds under management decreased from £9bn to £8.8bn.

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However, Foresight Capital Management suffered outflows over £207m over the six months, which the firm attributed to «rising interest rates continuing to impact the valuation of long duration infrastructure assets».

While Foresight Capital Management shed 27% of its AUM falling by £348m to £1bn, the firm's infrastructure arm saw AUM rise 4% to £9.8bn, while its private equity arm's AUM rose 2% to £1.4bn.

As revenues for the group rose 34% over the six months, it said it would be increasing its dividend from 4.6 pence per share to 6.7 pence per share, in line with its dividend policy of issuing a total dividend payout ratio of 60% of profit after tax before non‑underlying items.

In the coming six months, the group said it would be focusing on fundraising for its Australian Renewables Income fund and Foresight Energy Infrastructure Partners, as well as the launch of its first hydrogen strategy.

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Bernard Fairman, executive chair of Foresight Group, said: «With core EBITDA pre-SBP up by 28% and AUM at £12.2 billion, Foresight's diversified business model has successfully delivered a strong and resilient performance, during one of the steepest increases in interest rates in living memory. We are well positioned to benefit from interest rate stabilisation and