CEO of Anchor, Peter Armitage.

CAPE TOWN – Anchor Group’s asset under management fell 6 percent to R49 billion in the year to December 31, 2018, after a difficult year in the investment industry.

Adjusted headline earnings for the eight-year-old company increased 1 percent to R76.6 million, while adjusted headline earnings a share fell two percent to R76.6 million for continuing operations.

A final dividend of 10c brought the payout for the year to 20 cents, versus 10 cents in 2017.

Significant developments during the year included further diversified revenue streams, while the private clients business was operating smoothly and consistently gaining assets of over R300 million per month, the group said in a presentation on its website.

The asset management business secured its first big mandates worth over R3 billion in 2018.

The equity fund, which now has a five-year track record, had returned 10.9 percent per year since inception versus 6.1 percent per year for the peer group. Fixed income inflows grew meaningfully.

Some 51% of Anchor Stockbroking was sold to a BEE partner.

Post year end, 100 percent of Erudite was acquired.