Amvescap, the Anglo-US fund manager now run by former Franklin Resources executive Marty Flanagan, yesterday disclosed profits 51% higher at £67.6m (€99m) for the three months to September 30. Revenue rose from £280.9m to £302.6m

However, last year's profit figure was hit by a £229.2m charge to settle US regulators' allegations of improper mutual fund trading.