GLOBAL - Barclays Global Investors (BGI) has reported a 16.7% increase in its assets under management for 2006, taking the total to $1.8trn (€1.4trn).
The increase was mainly due to market appreciation as net new asset inflow decreased by $20bn to $68bn over the year.
However, BGI noted that "the positive market move impact was largely offset adverse exchange rate movements".
Profit before tax rose 32% to £714m (€1.1bn). BGI stated that this result reflects "very strong income growth and higher operation margins".
Over the last year BGI won 100 additional institutional clients bringing the total up to 2,900.
Barclays Capital saw its profit before tax rise 55% to £2.2bn, "driven by continued expansion of the business" as Barclays stated. Particularly strong areas of growth were commodities, equity products and credit derivatives.
For the whole Barclays group, profit before tax increased 35% to £7.14bn.