Aus Ethical NPAT up 46%
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.”
Recommended for you
Global asset manager Janus Henderson could be acquired after receiving a non-binding acquisition proposal jointly from a private investment firm and venture capital firm.
Investment manager Salter Brothers has partnered with private equity firm Kilara Capital to launch an Australian sustainable investment platform focusing on decarbonisation.
Fresh off launching three active ETFs to the Australian market, Avantis Investors is already planning to expand its range with two further products next year.
Ausbil is growing its active ETF range with an ESG product in collaboration with sister company Candriam.
