Neptune Investment Management’s chairman has lamented a “disappointing” 2015 for the equities fund manager, as a fresh bout of market weakness and volaility in the final two months of the year outweighed an earlier return to inflows and left profits, revenues and assets further down.

Neptune's 2015 accounts, published at Companies House on October 7, show that pre-tax profits at the boutique fell 32% to £2.8 million from £4.1 million in 2014. Revenues, meanwhile, fell 14% to £50.6 million from £59 million, while Neptune's assets edged down 6% to £4.5 billion.