Swiss investment firm Partner Group had substantial growth of profit in the past year and will now reward its shareholders through a higher dividend payment.
Partners Group had net income of 558 million Swiss francs in 2016, 41 percent more than a year earlier, the company said in a statement today.
The board of directors proposes to raise the dividend to 15 francs a share, which is akin an increase of 43 percent. The annual general meeting, which decides about the proposal, will take place on May 10, 2017.
AuM Growth
The Zug-based company accepted new asset worth 9.2 billion euros, up from 8.4 billion euros a year earlier. The largest share of the new money came from pension funds, the company said.
Assets under management rose 8.2 billion euros to 54.2 billion euros. With this increase in assets under management, Partners Group also boosted its revenues. Management fees rose 22 percent to 679 million francs and performance fees by 230 million francs to 294 million francs.
Vastly Increased Personnel Costs
The company increased the number of staff to 930 from 840. The spending on personnel rose by more than 100 million francs to 317 million.
In its outlook for this year, Partners Group said it expects gross client demand in the region of 8 to 10 billion euros.
