Independent fund administrator GlobeOp has announced interim results for the six months ended 30 June, which show assets under administration at a new high of $170 billion – up 42% in a year. Assets under administration were up 14% in the first half of 2011.
Revenues, adjusted operating profit, net income and cash have all continued to grow and have reached record levels. GlobeOp has seen a 23% rise in revenues over the first half, to $110.4 million, and adjusted operating profit rose 28% to $32.4 million. The adjusted operating profit margin has risen to 29.4% of revenues,