SCOTTISH fund management boutique Saracen Fund Managers saw profits tumble last year as assets under management fell in volatile markets and the business embarked on a major investment programme.
Turnover at the house, which moved from Glasgow to Edinburgh last year, fell 22.1% from £670,000 to £522,000 in the year to March 31 thanks to falling funds under management.
This prompted a 58.1% drop in pre-tax profit to £114,000.
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