Fiducian in the black despite profit fall
Fiducian Portfolio Services has reported a profit of $3.3 million for its 2008-09 financial year results, despite a fall in operating revenue of 23 per cent.
The fall in revenue was mainly the consequence of equity and property market devaluations over the financial year.
Fiducian's profit dropped by nearly half compared to the previous financial year, falling from $6.2 million in 2007-08. Platform funds under administration fell by 21.4 per cent to $984 million as a result of equity market falls. Operating costs increased by 1.4 per cent over the same period.
Fiducian's net cash flow fell to $3.18 million, compared to $6 million in the 2007-08 financial year.
Managing director Indy Singh said Fiducian expected its funds under management and administration to grow and the economic outlook to improve.
Recommended for you
In this week’s special edition of Relative Return Insider, we bring you outgoing Financial Services Minister Stephen Jones’ keynote from Momentum Media’s Election 2025 event, followed by a Q&A focused on the Delivering Better Financial Outcomes reforms.
In this week’s episode of Relative Return Unplugged, Dr Vladimir Tyazhelnikov from the University of Sydney’s School of Economics joins the show to break down the shifting sands of global trade dynamics and attempt to understand the way US President Donald Trump is employing tariffs.
In this week’s special episode of Relative Return Unplugged, we present shadow treasurer Angus Taylor’s address at Momentum Media’s Election 2025 event, followed by a Q&A covering the Coalition’s plans for the financial services sector.
In this week’s episode of Relative Return Unplugged, AMP chief economist Shane Oliver joins the show to unravel the web of tariffs that US President Donald Trump launched on trading partners and take a look at the way global economies are likely to be impacted.