High Octane return for HFA
Hedge Funds specialist HFA Holdings Limited has surpassed $3.8 billion in assets under management (AUM) prompting it to upgrade its 2006 prospectus forecast.
The company announced on the Australian Stock Exchange (ASX) this morning that the upgrade in AUM had resulted from the success of its latest Octane series capital raising.
However, the company said that the increased AUM would not affect previously advised, full-year guidance for net profit after tax, which was expected to be at least $17.5 billion.
Commenting on the ASX announcement, HFA chief executive Paul Jensen said the stronger than expected result was a testament to the company’s continued strength and its ability to create and deliver products that meet market demand.
AUTHOR
Mike Taylor
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
