Table of Contents
Key Points:
- Capilal Group’s AUM increased by 31 percent to N152 billion ($197 million) in 2024, showcasing strong financial performance.
- Client engagement and revamped financial planning packages fueled a 152-percent rise in AUM to N329 billion ($427 million).
- Growth in private, dollar, and corporate trust portfolios demonstrated United Capital Group’s market strength and client retention.
United Capital Plc, the pan-African financial services group headed by Nigerian investment banker Peter Ashade, has announced a remarkable growth in its Assets Under Management (AUM) for H1 2024, posting a 31-percent increase year-to-date, reaching an impressive N152 billion ($197 million) as of June 30, 2024
This was revealed at the groups investor and analysts call on Tuesday.
Client engagement and trust portfolio growth
Peter Ashade highlighted the company’s outstanding performance, emphasizing the surge in AUM by 152 percent year-to-date, reaching N329 billion ($427 million) as of 30th June 2024.
This growth was driven by client engagement and a detailed revamp of the company’s financial planning packages, designed to cater to clients’ pre-retirement and retirement financial plans.
The private trust portfolio demonstrated substantial growth, with a 37-percent increase year-to-date, closing at N133 billion ($172 million). Additionally, the dollar portfolio saw a modest but steady growth of two percent, ending June 2024 at $34 million.
These figures highlight United Capital’s ability to attract and retain high-value clients, enhancing its position in the private trust market.
The corporate trust portfolio experienced positive momentum, growing by five percent year-to-date to N3.50 billion ($4.55 million), indicating strong corporate confidence in Capilal Group’s trust services. Public trust portfolios also saw a growth rate of 5.5 percent year-to-date, demonstrating the firm’s capability to cater to public sector needs and enhance its public trust offerings.
United Capital, under the leadership of Peter Ashade since 2018, continues to provide financial products and services to enterprises, governments, high-net-worth individuals, and institutional and retail investors across Africa.
United Capital’s total assets grew by 27 percent year-to-date, reaching N1.19 trillion ($741 million) in June 2024, compared to N931.95 billion ($580 million) in December 2023. This growth was driven by a 240-percent increase in cash and cash equivalents.
Shareholders’ funds rose by 33 percent year-to-date to N120.34 billion ($75 million) in June 2024, up from N90.71 billion ($56.5 million) in December 2023, driven by a 59-percent growth in the fair value reserve.
