Zilla Efat’s article, King of castle forges alliance (Money Management, March 2) quotes incorrect figures attributed to Advance Asset Management’s funds under management.
Zilla Efat’s article, King of castle forges alliance (Money Management, March 2) quotes incorrect figures attributed to Advance Asset Management’s funds under management.
According to InvestorSource, who supplied the information to Money Management, AAM’s funds under management “had dropped from $3.6b in late 1997 to $2.5b last September”. These figures are totally incorrect.
The correct net funds under management figures should be $2.1b as at 31 December 1997 and $3.1b as at December 1999. As you can see, an almost 50% increase, hardly a decrease as suggested by InvestorSource.
In the light of the negative context in which these figures have been presented, I would greatly appreciate it if you would let your readers know of this error.
Eammon Roles
Head of Marketing and Products, Advance Funds Management.
