Macquarie looks to strong second half
Macquarie Group has forecast ending the current financial year on a positive note, telling the Australian Securities Exchange it anticipates the second half to be 35 per cent up on what was a subdued first half.
Delivering an operational briefing, Macquarie Group managing director and chief executive Nicholas Moore (pictured) said conditions were continuing to trend back to more normal levels, with the exception of equity markets where volumes remained subdued.
Moore’s briefing revealed the Macquarie Funds Group believed it was well positioned to benefit from improving market conditions, but signalled that further acquisitions were unlikely.
It said the outlook for further acquisitions was uncertain given increasing competition for quality platforms.
The briefing said that, on this basis, the group would be focusing on executing organic growth strategies, with the long-term objective of capitalising on opportunities between the divisions in Macquarie Funds Group to further leverage the global platform.
AUTHOR
Mike Taylor
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
