Devon Funds lists funds under management to $923 mln on KiwiSaver, roaring stocks

Tue, 30 Apr 2013

April 30 (BusinessDesk) – Devon Funds Management lifted funds under management by 14 percent last year on a combination of KiwiSaver inflows and strong gains in New Zealand equities. Funds under management at the fund manager, , founded by Paul Glass in 2010, rose to $922.6 million from $807.9 million a year earlier, according to its 2012 financial statements. Fund management fees rose 45 percent to $5.1 million. Profit in the latest year rose to $920,776 from $753,397 though Glass said the numbers had to be read with caution because of the...

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