Sunday, 23 October 2016
Last updated 1 day ago
Aug 3 2011 | 9:55am ET
Hedge fund administration and technology firm GlobeOp Financial Services saw its assets under administration increase 14% in H1 2011 to $170 billion, bringing the total increase for the past 12 months to 42%.
The firm saw revenue rise 23% over the past 12 months to $110.4 million, while its adjusted operating profit rose 28% to $32.4 million. The firm also saw an expansion of its adjusted operating profit margin—from 28.4% in H1 2010 to 29.4% in H1 2011.
Hans Hufschmid, chief executive officer, said: “GlobeOp performed well during the first half of the year…We added new clients, particularly in the second quarter, and our new business pipeline is building. We have continued to invest in our capabilities and enhanced our marketing efforts while expanding profit margins and generating strong cash flows. We see an array of growth opportunities for GlobeOp and believe recent global volatility will create opportunities for fund managers over time. We remain optimistic about our business and look forward to the second half of 2011.”