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
Lazard Asset Management has announced the launch of a new global equity fund, expanding its qualitative offering for Australian investors.
After introducing its first active ETF to the Australian market earlier this year, BlackRock is now preparing to launch its first actively managed, income-focused ETF by the end of November.
Milford Australia has welcomed two new funds to market, driven by advisers’ need for more liquid, transparent credit solutions that meet their strong appetite for fixed income solutions.
Perennial Partners has entered into a binding agreement to take a 50 per cent stake in Balmoral Investors and appoint it as the manager of Perennial's microcap strategy.
