customers on £ 2 billion last year, Hermes

  Hermes, the asset manager of BT Pension Scheme, a strategy that has done more to external companies to attract one, suffered net withdrawals of £ 2000000000 funds of clients in the last year.

According to reports filed last week in assets under management fell from 5% to £ 28.2bn over the 12 months to 31 December 2011 as a result of net outflows of funds and market movements. But, said losses narrowed from £ 16m to £ 5 million and the fund manager, he expected to profit next year to come back.

Paul Spencer, president of Hermes and plan administration of BT, said in an accompanying statement that the company had won "some remarkable third of institutional mandates during the year."

Saker Nusseibeh, chief executive officer said in the statement: "This process takes time and a positive sign, the witness of faith, that the third volume of sales steadily growing support in the coming year."

At Hermes '53 fund, surpassing their 42 benchmarks, including the European and global equities, commodities and real estate. The company said the performance was "mixed" in bond funds and activists debate and some of his hedge fund, run by the subsidiary Hermes BPK, below average.

Revenue rose 4% last year to EUR 102 million, but profitability was hit by 10, £ 4 paid in December to Thursday Hermes, Henderson Global Investors purchase of 35% in their private equity firm seal, Hermes GPE. The EPG many values, which manages £ 4200000000 total of Hermes, to 29.7 million pounds.

Hermes, one of the nation's largest final salary pension funds, closed his own arrangements for existing staff during the year.

A spokeswoman for Hermes said the company made 500 million pounds from external customers in 2011 and was the recruitment of sales staff.