Differentiated brands help IOOF flows
IOOF managing director, Chris Kelaher has extolled the virtue of operating a number of differentiated brands on the back of strong fund flows.
In an announcement released on the Australian Securities Exchange (ASX) today, IOOF reported it had achieved positive net flows of $528 million in funds under management, administration and advice for the second quarter of the 2017 financial year.
The company said total FUMA as at 31 December 2016 totalled $109.4 billion with funds under supervision standing at $29.9 billion.
Commenting on the flows, Kelaher said they reflected continued support of the firm's client facing advice model.
"This demonstrates the benefit of operating a number of brands which offer differentiated and complementary value propositions," he said.
The ASX announcement said total platform net flows were $250 million for the quarter with organic growth momentum within IOOF's flagship platforms continuing with a quarterly net inflow of $207 million.
It said that as in previous December quarters, investment management flows had been impacted by seasonal investment rebalancing on behalf of platform members.
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