Investsmart to miss FM income guidance

25 January 2019by Oksana Patron
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Investsmart Group has announced it will not meet funds management income guidance due to the current market environment.

The firm said that deteriorating market conditions since September, 2018, as measured by the All Ordinaries Accumulation Index, resulted in reduced inflows and a delay in the launch of its new active exchange-traded fund (ETF).

In August last year Investsmart projected annual growth of funds management income by circa 300 per cent for 2019 financial year.

Funds under management (FUM) stood at $110 million at 31 December, 2018, with funds management income growth of 168 per cent compared to the first half of 2018.

Read more about:: investsmart group; funds management; income guidance; all ordinaries accumulation index; ETF; exchange traded fund

Author

Oksana Patron

Oksana is Associate Editor at Money Management and Super Review. She has several years of experience in writing market and sector reports for investors as well as covering public companies and ICT sector for various publications in Europe and Australia.