Life in the fast lane
An 85 per cent increase in profit and numerous blue ribbons would be enough to prompt most managing directors to crack open the Bollinger and launch an over the top public relations campaign.
But while Indy Singh, managing director of Fiducian Portfolio Services, is pleased with his company’s achievements in 2006, he maintains the success is a result of hard work and a ‘battler’-type spirit — and there is still room for this boutique to grow.
In September, Fiducian announced an 85 per cent increase in consolidated profit after income tax. In 2006, profit was $3.593 million compared to only $1.94 million the previous year.
“Being a public company, I have to be very careful about what I predict and forecast. The profit results were a little higher than we expected but not a shock,” Singh said.
And Singh is quick to point out that everyone at Fiducian has played a part in the company’s success.
“I think we [Fiducian] are very humble and conscious about where we stand. Growing your business is never a one-way street. If you build good [business] relationships they will stand you in good stead always,” Singh said.
When the profit announcement was made it gave Fiducian yet another reason to celebrate.
In July, the Fiducian Growth Fund received top honours when Mercer Investment Consulting ranked it number one out of all diversified funds for the four years to July 31, 2006.
The following month, a research and ratings house ranked that same fund number one in the top five multi-sector growth funds for the three years to August 9, 2006.
Mercer Investment Consulting also ranked the Fiducian International Shares Fund as number one in the core funds category for the four years to April 30, 2006.
In addition to that, a research and ratings house gave top 10 rankings to both of the Fiducian Growth and Fiducian Balanced Funds for Australian diversified funds over the three years to February 2006.
Despite the accolades Fiducian has received in 2006, Singh said there is still a way to go for the company to reach the pinnacle of success, and he predicts success won’t come as easy in 2007.
“I love my business and love the people that work in it and it’s going to get harder,” Singh said.
In the coming months, Singh will continue to rely on Fiducian’s management team and the family culture they have created to ensure a “Mercedes Benz”-type performance.
And if that requires Singh jumping in the deep end and getting his own hands dirty, bring it on.
“I like to lead by example and people appreciate that. I wouldn’t like anyone to do something I’m not prepared to do myself,” Singh said.
Whatever happens, it goes without saying that Singh plans to keep his eye firmly on the ball in 2007.
“I don’t know if [Fiducian’s performance] will be just as strong [in 2007].
“But there is room to grow if the (Fiducian) vision is held up.”
— Tara Hayes
AUTHOR
Staff Writer
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