Overall profits before tax reached £35.
million, a 23.
% increase on 2004, with total funds under management this month hitting the £10 billion mark.
The group is organised into three operating divisions: investment management and banking, unit trusts, and trust services.
The board is particularly pleased with the unit trust management division, which almost doubled the value of funds under management to £1.
The value of segregated portfolios under management also increased by 20% to £8.
The trust division has also made further progress, with the Jersey office performing ‘very well’ and the Geneva office attracting ‘an encouraging flow of new clients’.