Capital International has defied concerns about poor investment performance and boosted net profits by 9% this year, according to accounts filed with Companies House last week.

Capital International Limited made pre-tax profits of £22.6m (€33.7m) on £207.3m in revenues in the year to the end of June. Staff costs rose 20% to £57m in the same period last year and the group increased its headcount 26% to 182 people. A spokesman said most of the hires had been in IT, a function that was historically run from the US. Capital has faced pressure this year from clients and consultants over fears it was becoming too big to manage its assets effectively. Consultants told Financial News at the beginning of the year that Capital could lose mandates as a result. Capital said its UK institutional assets were £49bn at the end of December last year and had fallen to £46bn in September this year. "When Capital started motoring in the UK in the late 1990s, it was the obvious choice. It's not anymore," said one UK consultant.