Johannesburg - Investec [JSE:INL] expects full-year earnings growth after increasing the funds it manages, the investment bank and asset manager said on Friday but warned that a weaker rand currency would hurt group results.
Investec, which is also listed in London, said in a statement that its Wealth and Investment and Asset Management businesses had received a combined $7bn in net fund inflows during the financial year.
However, the rand's depreciation against the pound would hurt the group's overall results for the year ending March 2015, Investec said, adding that the rand had depreciated about 11% over the period.