BTIM surfs markets to improved profit
|
|
BT Investment Management (BTIM) has moved strongly into the black, reporting an 11 per cent increase in net profit after tax to $14.2 million for the six months to the end of March, equating to a 58 per cent lift in statutory net profit after tax of $9.7 million.
BTIM chairman Brian Scullin attributed the profit increase to improved equity and credit markets and a continued focus on delivering long-term investment performance while keeping operational costs under control.
BTIM’s relatively new chief executive officer, Emilio Gonzalez, claimed the company’s multi-boutique model had demonstrated its resilience in difficult times.
BTIM said funds under management (FUM) had increased by $300 million over the six months to stand at $36.3 billion, with the increase being composed of market gains of $1 billion, offsetting net outflows of $700 million.
It said institutional and wholesale outflows were driven by lower margin cash and international fixed interest outflows, but there had been positive inflows of $400 million in Australian equities.
Discussing BTIM’s strategic objectives and outlook, Gonzalez said that while markets had improved significantly from the lows of March last year, investor confidence in riskier asset classes had not completely returned because of the current favourable rates being offered on term deposits.
He said BTIM was using the time as an opportunity to position for the future.
“We will review all our flagship funds to ensure they meet investor needs and are well-positioned for when investor appetite returns,” Gonzalez said.
AUTHOR
Mike Taylor
Recommended for you
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to unpack the political and economic implications of the Labor’s sweeping election victory and how much the Liberal Party’s economic strategy played a role in the wipeout.
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford take a final look at the lay of the land ahead of the federal election as the latest polls predict a Labor victory, and what that could mean for Australians going forward.
In this week’s special edition of Relative Return Insider, we bring you outgoing Financial Services Minister Stephen Jones’ keynote from Momentum Media’s Election 2025 event, followed by a Q&A focused on the Delivering Better Financial Outcomes reforms.
In this week’s episode of Relative Return Unplugged, Dr Vladimir Tyazhelnikov from the University of Sydney’s School of Economics joins the show to break down the shifting sands of global trade dynamics and attempt to understand the way US President Donald Trump is employing tariffs.
