Mercia Asset Management PLC has revealed strong results while a key figure has stepped down from its board of directors.
The investor said it expects its EBITDA for FY25 to be materially ahead of current market expectations after a strong final quarter in the year ended 31st March 2025.
In those last three months existing fund mandate increases, new fund management contracts awarded and successful VCT and EIS fund raises have totalled around £250m. There were no redemptions during FY25.
Mercia now has £1.8bn of assets under management. Its closing cash and cash equivalents position at the year end was around £40m, and the group remains debt free.
Mercia said that after seven years as chief investment officer, Julian Viggars (pictured) has stepped down from its board “to enable him to concentrate all of his time on the group’s equity portfolios’ investment performance”.
“We are pleased to update that Mercia has had an excellent finish to the financial year. Our second successive year of significant fourth quarter organic fund inflows, coupled with a strong trading performance, is testament to our clear strategy of focusing on growing our profitable specialist asset management capabilities,” said Dr Mark Payton, CEO.
“It also reflects Mercia’s increasing ability to effectively deploy equity and debt funding across the UK, through our established regional footprint of 11 offices and our extensive deal flow networks, to generate attractive returns over time for our investors.
“Mercia has entered the new financial year in a very healthy position.”
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