Clime reports 'material increase' in profit
Clime Investment Management is set to report a “material increase” in profit before amortisation and tax in its full-year results, up from a $1.34 million profit in FY20.
It was expected that the improved result would likely allow for the declaration of an increased final fully franked dividend, following audit clearance.
Funds under management and advice was now $5.1 billion, a 0.6% change compared to the end of the March quarter, and funds under advice in the Madison network had reached $3.9 billion.
As of 30 June, 2021, it held over $10.1 million of liquid capital, which included its investment in the listed company Clime Capital.
Individually managed accounts had $556 million funds under management (FUM), a 6.5% increase over the quarter; while separately managed accounts (SMAs) had $98 million, a 5.4% increase.
Managed funds and mandates held $362 million FUM for a 9.7% quarterly increase and Clime Capital held $163 million for an 8.7% increase.
The firm also reported the Clime Smaller Companies fund had returned 100% since inception on April 2017 and exceeded $90 million in FUM.
AUTHOR
Chris Dastoor
Recommended for you
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
Strong adviser engagement has helped Praemium reach $1 billion in inflows on its Spectrum offering, with a deal with Western Australian wealth firm Euroz Hartleys expected to add as much as $2 billion.
