River and Mercantile reported an 8% increase in fee-earning assets under management to £47.6bn alongside a 448% boost in performance fees, to £6.4m. 

The firm, which specialises in investment and actuarial products, reported £10.9m in pretax profit, up from £8.3m the previous year. Its £6.4m performance fees were up from £1.2m in the previous period. Its underlying revenue —total revenue minus performance fees — was down 2% to £67.9m from £69.4m in the previous year.