Private credit inflows see MA Financial’s AUM reach $9.2bn
MA Financial Group has attracted strong inflows in the second half of 2023 as it hits $9.2 billion in assets under management (AUM).
In the results, the global alternative asset manager said it has recorded net fund inflows of $1.2 billion for the 2023 year to 1 November. This was up from $939 million in the same period a year ago.
MA noted it has seen “very strong growth in flows from domestic clients”, with net flows from domestic high-net-worth (HNW) and retail clients rising significantly from $390 million in FY22 to $734 million in FY23.
This was largely driven by strong investor interest in MA Financial’s private credit funds, the statement explained.
MA Financial’s $9.2 billion AUM was up 21 per cent from $7.6 billion in November 2022.
“In 2H23 to date, the group has continued to experience positive underlying business momentum that positions the business for strong growth in FY24 and beyond,” the statement wrote.
“However, the challenging macroeconomic environment continues to materially impact near term transactional items including corporate advisory activity and performance fees.”
Julian Biggins and Chris Wyke, joint chief executives of MA Financial, remarked on the “pleasing” strength of recurring revenue businesses amid a challenging backdrop.
“While market-related reductions in asset values and associated lower transaction activity makes it more challenging to manage our existing real assets, the dislocated markets present a significant opportunity to grow the business in the near term.
“Volatile market conditions are also impacting corporate advisory deal timing and ease of closure. Historically, when financial markets become more stable transaction activity increases.”
The firm’s MA Marina Fund grew to nearly $270 million in AUM, following equity raising from two marina acquisitions.