Clime IM FUM up 25%
Clime Investment Management has posted a 25% growth in total gross funds under management (FUM) to $1.019 billion for the first half of FY20 year ending 30 June, 2020.
Following this, the company announced a fully franked interim dividend of 1 cent per share against 0.75 cents per share compared to the previous corresponding period, with the dividend payable in April, 2020.
At the same time, the statutory profit after income tax was up 303% to $0.86 million and the underlying cash profit stood at $1.73 million, the company said in the announcement made to the Australian Securities Exchange (ASX).
Clime’s chief executive, Rod Bristow, said the growth in operating earnings was helped by the momentum post the launch of the strategic initiatives of private wealth advice and third-party distribution in FY19.
“Refinement of Clime’s investment process and methodology in the last 12 months has made a material contribution to the H1 result by way of performance fees, with most group investment products contributing,” Bristow said.
“We also continue to maintain a strong balance sheet, with $10.1 million held in cash and liquid investments.”
AUTHOR
Oksana Patron
Recommended for you
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
Evidentia Group has hired a head of quantitative investments who joins the investment firm and managed account provider from AMP.
Fidelity International has worked in tandem with Australian wealth manager Emanuel Whybourne & Loehr to launch an actively managed global equities strategy aimed at financial advisers.
