Acquisitions boost Treasury Group FUM
Recovering markets and acquisitions have seen Treasury Group grow its total funds under management (FUM).
The publicly-listed funds manager has told the Australian Securities Exchange that FUM as at December 31 had increased by 11.53 per cent to stand at $14.46 billion during the December quarter.
However, the Treasury Group announcement pointed out that this figure included FUM attributable to three businesses acquired during the quarter — Aubrey Capital Management, AR Capital Management and Celeste Funds Management (previously known as Souls Funds Management).
It said the new businesses had contributed $520 million to FUM.
The announcement said the business was continuing to attract new flows with earnings diversification continuing across its expanded manager line-up.
AUTHOR
Mike Taylor
Recommended for you
Two commentators have shared why the inclusion of alternatives in a diversified portfolio shouldn’t be a simple switch with a traditional asset and will depend heavily on clients’ objectives.
Morgans chief executive, John Clifford, has announced he will step down from the wealth management group after eight years leading the business.
Funds under administration on the BT Panorama platform have passed $120 billion in the last six months as it progresses its migration of Asgard into the platform.
Private markets may be the hot topic of the day but two financial advisers have shared the red flags to consider and why advisers shouldn’t be tempted to invest solely in the pursuit of higher returns.
