BT reports profit for 2008-09
|
|
BT Investment Management (BTIM) has announced a profit of $26.9 million for September 2008-09, according to its annual results.
However, that profit has taken a dive of 33 per cent compared to the previous corresponding period.
BTIM's revenue dropped by more than $34 million between September 2008 and 2009, while its funds under management were up by $0.7 billion, or 2 per cent.
Total inflows for the business were $200 million over the reporting period, with $1 billion in inflows from institutional and wholesale clients, while outflows for retail clients reached $0.8 billion during the year.
BTIM’s expenses were also down during the year thanks to a savings program, with its employee costs dropping by 14 per cent, while other costs were down by 20 per cent during the year.
Chairman Brian Scullin said BTIM had continued to focus on managing its clients' funds and developing products while controlling its cost base and balance sheet.
BTIM's multi-boutique model had demonstrated its resilience throughout the financial crisis, he said.
Recommended for you
In this episode of Relative Return Insider, host Keith Ford and AMP deputy chief economist Diana Mousina break down the spike in inflation numbers and what it means for the possibility of a rate cut as we move into the new year.
In this episode of Relative Return Insider, host Keith Ford and AMP economist My Bui explore Prime Minister Anthony Albanese’s trip to the US and the critical minerals deal stemming from his meeting with President Donald Trump.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver unpack the latest unemployment numbers and what they mean for a rate cut, as well as how the latest flare-up in the ongoing US–China trade dispute has highlighted the remaining disparity between gold and bitcoin.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver take a look at the unfolding impacts and potential economic ramifications of the US government shutdown and the surge in gold and bitcoin prices.
