Inflows boost Merc profit
Strong inflows into Mercantile Mutual’s managed funds has helped lift the group’s operating profit after tax up 23 per cent to $70 million for the six months to the end of March.
Strong inflows into Mercantile Mutual’s managed funds has helped lift the group’s operating profit after tax up 23 per cent to $70 million for the six months to the end of March.
A 58 per cent hike in managed funds inflows fuelled a 10 per cent rise in total funds inflow to $3.6 billion for the six months to March 31. Merc now has just un-der $30 billion under management.
The strong growth in inflows produced a 14 per cent rise in after tax profit from life and funds management operations to $60 million, making up 90 per cent of the group’s net profit.
Recommended for you
Join us for a special episode of Relative Return Unplugged as hosts Maja Garaca Djurdjevic and Keith Ford are joined by shadow financial services minister Luke Howarth to discuss the Coalition’s goals for financial advice.
In this special episode of Relative Return Unplugged, we are sharing a discussion between Momentum Media’s Steve Kuper, Major General (Ret’d) Marcus Thompson and AMP chief economist Shane Oliver on the latest economic data and what it means for Australia’s economy and national security.
In this episode of Relative Return Unplugged, co-hosts Maja Garaca Djurdjevic and Keith Ford break down some of the legislation that passed during the government’s last-minute guillotine motion, including the measures to restructure the Reserve Bank into a two-board system.
In this episode of Relative Return Unplugged, co-hosts Maja Garaca Djurdjevic and Keith Ford are joined by Money Management editor Laura Dew to dissect some of the submissions that industry stakeholders have made to the Senate’s Dixon Advisory inquiry.
