Clime streamlines, tightens belt

Clime Investment Management has looked to reduce costs and streamline its operations acknowledging that it has closed two small retail fund offerings and replaced seven of its separately managed funds.

The owner of financial planning group, Madison, announced the moves to the Australian Securities Exchange (ASX) late on Friday noting that it had also “further consolidated Madison, WealthPortal, ProActive Portfolios and AdviceNet into the Clime Group”.

It said that to complement its strategy, the company had initiated ‘Project Streamline’ “which includes a number of actions designed to reduce costs, better support our people, allow real focus on our key products, ensure best practice governance and compliance, support improved client service and promote revenue growth”.

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“As a result, we are in the process of replacing seven of the Clime separately management funds (SMAs) with ProActive’s SMA portfolios and have taken steps to eliminate a number of duplicated supplier arrangements, expand our investment product available on investment platforms, and update our website,” it said.

“During the last quarter Clime also closed two small retail fund offerings which were deemed uneconomical and offered those investors direct access to Clime Capital Limited.”




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