Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Aus Ethical NPAT up 46%

Australian-Ethical/

27 August 2020
| By Jassmyn |
image
image image
expand image

Australian Ethical has posted a 46% increase in net profit after tax to $9.5 million for FY20 thanks to growth in new customers, record net inflows and a performance fee of $3.6 million relating to its Emerging Companies fund.

Revenue increased 22% to $49.9 million, including the Emerging Companies performance fee which delivered one-year returns of 20.6% above benchmark for retail investors and 21.4% above benchmark for wholesale investors. The $3.6 million performance fee was up 350% from FY19’s $0.8 million.

The firm announced its inflows were up 100% at $660 million due to a 20% increase in its customer base, with managed fund customers increasing up 16% and superannuation members by 20%.

Funds under management (FUM) for the full year increased by 19% to $4.05 billion. This was driven by the firm’s inflows and investment performance.

Australian Ethical chief executive, John McMurdo, said: “Our business model, our investment philosophy and our commitment to our purpose have enabled Australian Ethical to rise to the challenges posed by COVID-19.

“…we are in a strong position heading into FY21 with no debt, strong cashflows and positive net inflow momentum. We are focused on investing in the long-term growth of our business and realising the potential of our ethical investing portfolio construction.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 1 day ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

4 weeks ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 2 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

3 weeks 6 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND