LONDON (ShareCast) - Fund of hedge funds manager Integrated Asset lifted underlying funds under management by 17% last year and shrugged off the current maker volatility, adding it expects to outperform "significantly" comparable benchmarks and indices this month.

Assets under management and advice at end 2007 rose to $2.6bn from $1.5bn at the end of 2006. The acquisition of 51% of Altigefi chipped in a big chunk of this, but organic growth came in at 17%.

Turnover for 2007 is expected to reach £14.4m (2006: £11.7m) and profit from continuing operations before adjustments to be in line with forecasts.

"Historically, bear markets have provided some of the best conditions for funds of funds. Given our strong platform and process, our team of seventeen highly experienced investment and risk managers, we are convinced that this market phase will prove to be a time of opportunity for the company," chairman John Booth said.

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