Amvescap profit

AMVESCAP, the fund management group formed from the merger of Invesco and AIM Management in 1997, yesterday dismissed rumours that it planned to give up its independence as it reported improved pre-tax profits of pounds 117.6m (pounds 73.4m) for the first half.

Amvescap shares recently rose on rumours that Goldman Sachs was about to bid for the group in an attempt to boost its asset management presence. Neither side commented on the rumours.