A FUND management firm which has grown into one of Brighton’s biggest employers hopes to attract even more new staff after posting healthy financial results in the current economic climate.

Family Investments (FI), a mutual with more than a million customers, has grown by a third in the past 12 months and now employs 370 people at its offices in West Street.

The firm provides cash ISAs for the Post Office and recently became the leading provider of Child Trust Funds (CTFs) in the country after signing a deal with Abbey. £250 vouchers are given to every UK child and parents have to find a provider to set up an account.

FI now has more than 600,000 customers saving through this part of the business.

Despite this success, the firm relies on managing investment funds for the majority of its income, which was hit as the stock market crashed in 2008.

Income dropped from £21 million to £19 million and profits fell from £8 million in 2007 to just over £5 million in 2008.

These figures compare well to other financial institutions, which have suffered huge losses during the credit crunch.

John Reeve, chief executive of FI, said: “The CTF business has not been affected by the downturn in the markets while our cash ISAs are proving more attractive than equity ISAs.

“Both these have been performing pretty well but we have not been immune. A lot of our income derives from funds we manage and they have been affected by falls in the market.”

He said: “We are growing strongly but the pace may lessen. Over the next few years we should still be creating jobs.”

Mr Reeve believes the stock market should pick up next year. He said: “2009 will be very tricky but I think things will pick up in 2010. But it is a foolish person who thinks things will not change and we could face new challenges.”