Shore Capital, the UK investment bank, reported a 79 per cent rise in funds under management to $2.9 billion in the 12 months to end-August, up from $1.62 billion in 2006. It also posted a 29 per cent increase in first half pre-tax profits to £12.11 million at end-June, up from £9.42 million in the corresponding period last year. First half revenues rose 24 per cent to £25.47 million, up from £20.50 million in the same period last year. Revenue from asset management and principal finance/own balance sheet was £9.39 million, from £5.92 million in first-half 2006, with net margin rising to 67 per cent from 50.1 per cent. London-listed Shore Capital specialises in fund management, principal finance and equity capital market activities. Based in London, Liverpool and Berlin, it manages specialist funds, with a particular focus on alternative asset classes. The ECM division offers a wide range of services for companies, institutions and other sophisticated clients including corporate finance, stockbroking and market making.