In its interim statement this morning the group said it was exploring its options after receiving “certain expressions of interest” but warned “there can be no certainty any sale will take place”.

Investec Asset Management and Investec Wealth & Investment reported results moderately ahead of the prior year, with higher levels of average funds under management and net inflows of £2bn and £1bn, respectively.

However, the latest set of results covering the nine months to 31 December 2013 revealed the asset management arm has suffered from the depreciation of the South African rand versus sterling, the reporting currency.

The currency fell from 13.8 rand to the pound at the end of 2012 to 17.4 by the end of 2013, causing assets gained from the South African operation to plummet in sterling terms.

Since 31 March, which is the end of the group’s financial year, it has seen third party assets under management drop 2% to £108bn in sterling terms, while on a currency neutral basis they increased by 6%.

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Equally, deposits and core loans and advances fell by 10% and 9% in sterling terms, respectively, an increase of 3% and 6% when the currency effect is stripped out.

Total operating income saw a moderate increase of 1% compared to the previous year, but operating costs were 2% higher.