High Octane return for HFA
Hedge Funds specialist HFA Holdings Limited has surpassed $3.8 billion in assets under management (AUM) prompting it to upgrade its 2006 prospectus forecast.
The company announced on the Australian Stock Exchange (ASX) this morning that the upgrade in AUM had resulted from the success of its latest Octane series capital raising.
However, the company said that the increased AUM would not affect previously advised, full-year guidance for net profit after tax, which was expected to be at least $17.5 billion.
Commenting on the ASX announcement, HFA chief executive Paul Jensen said the stronger than expected result was a testament to the company’s continued strength and its ability to create and deliver products that meet market demand.
AUTHOR
Mike Taylor
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
