Powering growth
Mercia’s alignment with our fund investors’ core values and beliefs, delivered by our exceptional team of talented individuals developed over our 14-year history, affirms our proven formula of investment returns and FuM growth. We are committed to providing impactful capital and support based on meritocracy, not geography.Dr Mark Payton, CEO, Mercia
Non-executive Chair's statement
In spite of the global and domestic market backdrop, across our equity investing and lending asset classes, the Group achieved record fund inflows of c.£562million during the year, taking our total assets under management to c.£1.8billion, almost double where we were three years ago.
CEO's review
The year to 31 March 2024 was characterised by market volatility, high inflation and high interest rates driving up the costs of doing business, alongside geopolitical uncertainty and a thankfully short-lived recession. It is therefore pleasing to have come through these universal headwinds with record organic growth in our assets under management, driven by Mercia’s diversified and differentiated approach to making a positive impact for our investors and investees.
Mercia by numbers
Group AuM (FY23: £1.4bn)
NAV/share (FY23: 45.4pence)
Revenue (FY23: £25.9m)
EBITDA (FY23: £5.2m)
Net Assets (FY23: £202.9m)
Proposed final dividend (FY23: 0.53p/share)
Cash (FY23: £37.8m)
New fund management contracts awarded by the British Business Bank
Mercia secured five significant fund management contracts from the British Business Bank, totalling £360.0million in new funds under management. This includes three mandates under the Midlands Engine Investment Fund II and two under the Northern Powerhouse Investment Fund II.
The funds will support businessesacross key UK regions, enhancing Mercia’s position in the third-party fund management sector and driving significant economic impact in the Midlands, Yorkshire and the Humber.
Netacea
Award winning bot protection for enterprise
New CEO Mick Bradley shares insights on how this Manchester-based business is leading the way in cybersecurity against bot attacks and what makes Netacea stand out in the industry.
ImmuOne
In vitro specialists for immune responses in the lung
Professor Victoria Hutter, Dr Ewelina Hoffman and Dr Rhamiya Mehendran talk to us about ImmuONE‘s lead in vitro products, its impact with its customers, whilst documenting their growth journey.
WorkBuzz
Improving employee engagement and cultures
Medherant announced in April that it has raised £2.9m of new funding from investors in a financing round led by Mercia Asset Management.
WorkBuzz‘s, Steve Frost (CEO) and Melisaan Foster (CXO), explain how this leading HRTech company is helping organisations across the globe in recruiting, retaining and cultivating positive cultures through its actionable employee engagement surveys..
Annual report 2024
Set against another year of subdued inflows by the asset management sector, Mercia achieved record fund inflows of c.£562million during the year and increased revenues, EBITDA, adjusted operating profit, dividends and cash. Martin Glanfield, CFO, Mercia