BTIM reports record inflows
BT investment Management (BTIM) has delivered record first-half net inflows of $4.6 billion, declaring a one per cent increase statutory net profit after tax of $79 million.
The board has declared a dividend of 19 cents per share30 per cent franked.
The company said it believed the result demonstrated the strength of its diversified business.
“It is pleasing to report that the growth of our underlying business has largely offset the negative impact of lower performance fees and adverse currency movements to deliver a cash net profit after tax result in line with last year and an increased interim dividend,” the chairman, James Evans said.
BTIM chief executive, Emilio Gonzalez said the half-year result was a story of flows.
“In this half, counter to industry trends, we have attracted record net inflows across our diverse range of investment strategies,” he said. “This is the outcome of the consistent execution of our long-term strategy of building and growing a diversified global asset management business.”
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