The price of shares in FTSE 250 asset manager Sanne (LON:SNN) climbed 6.62% to 612p (as of 12:05 GMT) after it reported a 9.5% increase in turnover for the year ended 31st December. Statutory pre-tax profits were up by 114.9% and management said that the signs of market progress seen in the last quarter of 2020 have continued in to current trading.
CEO Martin Schnaier commented: “Sanne has delivered a robust financial performance in 2020 and continued to make progress against our strategic priorities. We have further enhanced our offering to clients through the rollout of new products and investment in technology, in addition to broadening our global footprint and capabilities with five acquisitions.
“Looking ahead, whilst the COVID-19 pandemic remains ongoing, we are encouraged by the positive trends we have seen in recent months. The long-term prospects for the alternative assets industry remain highly attractive and the strong platform we have built means that Sanne is ideally positioned as markets improve“.