Fiducian performs solidly since listing
Fiducian Portfolio Services has released its first half-yearly report as a listed company, recording a half yearly profit of more than half a million dollars.
This figure more than trebles the unaudited figure of $149,000 for the same period the year before.
In the half year, the company established Fiducian Financial Services, which obtained an unrestricted dealers license. It is expected to commence trading this month as the company's specialist financial planning arm.
The financial services arm of Fiducian has also set its sights on attracting both new dealer groups and increase the numbers of financial planning with existing groups, in an effort to expand its distribution network.
However, the company frankly notes that inflows in the period September to December were lower than expected, and attributes the slowdown of business to the Olympics and to volatility in the sharemarkets.
At December 31, assets under management in the Fiducian Investment Service and the Fiducian Superannuation Service were $120.6 million and $342.7 million respectively.
AUTHOR
Lachlan Gilbert
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