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.

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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.

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