BTIM’s reports strong half
BT Investment Management (BTIM) has reported a strong half year result on the back of the performance of its global asset management business.
The company announced to the Australian Securities Exchange (ASX) today a 143 per cent increase in cash net profit after tax (NPAT) to $83.1 million for the half-year ending 31 March, translating to its statutory NPAT being up 243 per cent to $78.3 million.
Cash earnings per share was up 137 per cent to 28 per cent, with the directors announcing an interim dividend of 16 cents per share.
BTIM chief executive Emilio Gonzalez attributed the result to the continued strength of the company's offshore business, higher markets and excellent investment performance.
The results announcement said that average funds under management (FUM) had increased 26 per cent to $61.33 billion, assisted by positive markets.
Gonzalez said the group's strategy was on track and that it would continue to seed and invest in new teams, product development and its distribution capability.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
