Peregrine performance fees fall 65%
Wealth and asset manager grapples with reduced deal-flow in depressed business environment
Specialist financial services company Peregrine Holdings reported a sharp fall in performance fees in the year to March because of the weak financial markets.
“Without a doubt this is the most depressed business environment we have operated in. But there are opportunities in the current situation. The asset management businesses can use the opportunity to buy cheap assets. Citadel is an advice-led business and people require advice in tough markets. So, we think we are well prepared for any uptick in corporate and economic activity,” says Rob Katz, CEO of Peregrine. ..