Investec Asset Management, the UK-South African fund manager, said this morning its operating profits and its assets under management both hit new records for the 12 months ended March 31, putting the firm on a strong footing ahead of the 15% equity buy-out by its senior management.

Operating profit before tax rose 5% to £140m during the 12 months, the firm said, due to an 8% jump in revenues thanks to higher assets under management during the year, plus higher performance fees. The firm also reported it took in a net £4.1bn of new money during the 12 months.