BT Investment Management result reflects volatility
BT Investment Management (BTIM) has struggled amid continuing volatile market conditions, posting a 24 per cent decline in statutory net profit after tax to $11.2 million for the six months ended 31 March.
The result includes the first six-month contribution from JO Hambro Capital Management since its acquisition last year.
In an announcement released on the Australian Securities Exchange (ASX) today, the company said the result had come about despite a 51 per cent increase in revenue to $92.9 million and a 23 per cent increase in average funds under management for the period.
Commenting on the result, BTIM chief executive Emilio Gonzalez said that despite improved market conditions in the March quarter, investors had remained cautious.
He said the company's cash and fixed income capability was attracting strong support, and it had launched new income products in the wholesale market.
"We see a continuing trend in investors seeking yield and we are developing new product initiatives to address this demand," Gonzalez said.
Looking over the horizon, Gonzalez said that while the company had been encouraged by the improvement in markets in the March quarter, this needed to be sustained for investor confidence to return.
Recommended for you
In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by special guest Shane Oliver, chief economist at AMP, to break down what’s happening with the Trump trade and the broader global economy, and what it means for Australia.
In this episode, hosts Maja Garaca Djurdjevic and Keith Ford take a look at what’s making news in the investment world, from President-elect Donald Trump’s cabinet nominations to Cbus fronting up to a Senate inquiry.
In this new episode of The Manager Mix, host Laura Dew speaks with Claire Smith, head of private assets sales at Schroders, to discuss semi-liquid global private equity.
In this episode of Relative Return, host Laura Dew speaks with Eric Braz, MFS portfolio manager on the global small and mid-cap fund, the MFS Global New Discovery Strategy, to discuss the power of small and mid-cap investing in today’s global markets.
