Net income was $834 million, up 0.4% on the Q3. Net revenue was $1.1 billion, up 3.7% compared to Q4 2019, predominantly driven by higher performance and management fees, as well as higher deposit and loan balances, partially offset by deposit margin compression. Assets under management were $4.2 Billion, up 0.3%.
Chief Financial Officer John Seymour had the following statement: “We were able to move clients into safe haven assets during the start of the pandemic while taking advantage of certain market situations towards the later half of the year meaning portfolios were still allowed to grow and the average ROI was 18.5% a increase of 1% from Q4 2019.”
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