Wilson HTM back in the black
Diversified publicly listed financial services company Wilson HTM has joined a number of other companies in returning to growth in the first quarter of the new financial year.
The company reported to the Australian Securities Exchange (ASX) today that its unaudited after-tax profit for the three months ended 30 September was $3.3 million, compared to $2.2 million for the full 2009 financial year.
The announcement said that group funds under management had grown by 27 per cent to $8.1 billion during the quarter, with $0.7 billion in inflows achieved across Pinnacle funds and $0.1 billion in inflows into Wilson HTM managed accounts.
It said that Pinnacle funds under management now stood at $5.9 billion and Wilson HTM at $2.2 billion.
Commenting on the results, the company said it was encouraged by the general improvement in market conditions and client alpha, however he said there was still insufficient data to provide full-year profit guidance.
AUTHOR
Mike Taylor
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.
