BTIM strategy delivers record result
BT Investment Management has reported a record full-year result with a cash net profit after tax of $132.5 million.
The result, announced to the Australian Securities Exchange (ASX) today, will see the Westpac-owned business deliver shareholders a final dividend of 20 cents per share.
The ASX announcement said the result had been underpinned by strong growth in base management fees and record net inflows.
It said net inflows of $5.7 billion, investment outperformance and a lower Australian dollar had all contributed to an increase in funds under management of $12 billion to $78.4 billion as at 30 September.
Commenting on the result, BTIM chief executive, Emilio Gonzalez said it reflected the ongoing success of the strategy to expand globally and benefit from a more diverse business delivering growth.
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