BTIM announces record full-year result
BT Investment Management (BTIM) has announced a record full-year result for the year ending 30 September, with a 105 per cent increase in cash net profit after tax to $127 million.
The result has seen the directors declare a final dividend of 19 cents per share, bringing total dividends for the year to 35 cents.
Commenting on the result, BTIM chief executive, Emilio Gonzalez said it had been underpinned by exceptional fund performance, strong growth in margins and excellent fund flows.
"While standout performance fees were earned this year, I am particularly pleased with the continued growth in our funds under management and the underlying base management fee revenue, which reflects the successful execution of our growth strategy," he said.
Looking over the horizon, Gonzalez said that while the company remained confident about its ability to deliver strong returns to investors, performance fees from JO Hambro Capital Management were by their nature highly variable and were likely to be lower in the year ahead.
"We do however remain confident of achieving continued growth in our base fee revenues, subject to market movements," he said.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
