Alpha Growth PLC (LSE:ALGW, OTCQB:ALPGF) said it had advanced with its target of managing US$2bn of assets by 2025 over the past six months.
"Progress in achieving our stated objectives is promising," said chairman Gobind Sahney.
“A number of key initiatives to support this plan are tracking ahead of schedule," he added.
Total assets under management at the end of June were £258mln (£238mln) with a "significant number of wide-ranging initiatives yet to be implemented".
Alpha Growth, which specialises in secondary market US term assurance, saw revenue rise to £1.63mln from £1.31mln in the half year.
Losses before tax were £455,000 (£324,000), which Alpha Growth said reflected increased marketing, acquisition and inflation-related costs.
“We expect our cash flow to improve, and we continue to believe that we will not require a placing of shares unless it is for strategic acquisition and growth purposes,” Sahney added.
"The volatility in capital markets is continuing to cause challenges across the market, however, we continue to be confident that both our fund and insurance business segments continue to be attractive to the sophisticated investor and institutional marketplace.”