Weaker $A and markets favour BTIM
BT Investment Management (BTIM) has posted a strong first half, reporting a cash net profit after cash of $66.5 million for the six months ended 31 March.
BTIM chief executive, Emilio Gonzalez's announcement described the outcome as a "quality result"
He said the business was performing extremely well and demonstrating the benefits of a diversified portfolio with strong investment performance.
"We are delivering growth in funds under management (FUM) and base management fees in both our domestic and offshore businesses as a result of investing in new teams, products, and continuing to expand our global footprint," he said.
Gonzalez said the company had record FUM growth of $10.7 billion driven by strong demand for JO Hambro Capital Management (JOHCM) equity funds, rising markets, a weaker Australian dollar and continued demand for domestic income products.
Looking over the remainder of the financial year, Gonzalez said the company remained focused on its long-term growth strategy.
"We have invested in new markets, teams and products all of which are now contributing to the growth of the business," he said.
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