AMVESCAP's assets under management were $382.1 billion for the year ended Dec. 31, up 3% from the previous year, said Bill Hensel, director, media relations. The firm's assets under management were $362.7 billion for the quarter ended Sept. 30. AMVESCAP reported net profit before tax, goodwill amortization and exceptional items of £269.8 million ($507 million), compared with £270.3 million in 2003. Revenues for 2004 and 2003 were nearly identical at roughly £1.16 billion each year.
"While many of AMVESCAP's businesses around the world enjoyed great success during 2004, the market-timing investigation held back our U.S. business for much of the year," Charles W. Brady, executive chairman, said in a statement today. "AMVESCAP ended the year with a renewed focus on serving our clients and regaining business momentum."