Keybridge deflates Mariner result
Mariner Financial Group has weathered market volatility to produce a $2.2 million profit for the six months to December 31, excluding what it described as the mark-to-market effect of its shareholding in Keybridge Capital Limited.
It said including the unrealised mark-to-market effect of Keybridge Capital Limited, the net loss after tax was $13.9 million.
Keybridge Capital was formerly known as Mariner Bridge Investments and is majority owned by Mariner.
Commenting on the results, Mariner executive chairman Bill Ireland said the company was confident that transactions currently being constructed would generate profit and value added outcomes over the next six months.
Looking over the horizon, the company said its overall corporate objective was to grow assets under management to increase recurring management fees.
It said that amid the current market volatility it would continue to focus on sourcing assets through third-party and joint venture equity.
AUTHOR
Mike Taylor
Recommended for you
Insignia Financial has reached a major milestone in completing the separation of MLC Wealth from NAB, having acquired the firm back in 2021.
There could be changes ahead for how ASIC requires licensees to handle conflicts of interest as the corporate regulator announces it will be meeting key stakeholders next year to update guidance.
Proper recordkeeping has been described as the “mortar between the bricks” of the advice process and critical to an FSCP decision as an adviser is suspended for failures in this area.
As investors increasingly seek to embed ESG considerations in their portfolios, a specialist adviser has offered tips for financial planners who may feel overwhelmed in tackling these complex topics with clients.
