Fund units purchased for employee benefits reclassified as prepayments
UK investment manager BlueBay Asset Management (BlueBay) changes its policy to initially record fund units purchased for the benefit of its employees as prepayments rather than financial assets at fair value through profit or loss that reduces total assets by 9.5% and total liabilities by 28.7%.
Exceptional costs reduce profit by 21.5%
UK investment manager BlueBay Asset Management (BlueBay) classifies as exceptional £4.8 million costs which relate to redundancy and relocation of US operations and reduce profit by 21.5%.
