Mercia successfully navigates a tricky half

A reliance on large publicly-funded clients, and a regional investment mission that most investors ignore, proved to be a resilient niche for Mercia Asst Management (MERC) as assets-under-management increased by nearly 25 per cent to £1.83bn, on the back of new mandate wins worth £360mn. This was a notable result in the context of a sector seeing continual outflows, as competition with cash saps investors’ willingness to hold funds in the market.