Clime reports 'material increase' in profit


Clime Investment Management is set to report a “material increase” in profit before amortisation and tax in its full-year results, up from a $1.34 million profit in FY20.
It was expected that the improved result would likely allow for the declaration of an increased final fully franked dividend, following audit clearance.
Funds under management and advice was now $5.1 billion, a 0.6% change compared to the end of the March quarter, and funds under advice in the Madison network had reached $3.9 billion.
As of 30 June, 2021, it held over $10.1 million of liquid capital, which included its investment in the listed company Clime Capital.
Individually managed accounts had $556 million funds under management (FUM), a 6.5% increase over the quarter; while separately managed accounts (SMAs) had $98 million, a 5.4% increase.
Managed funds and mandates held $362 million FUM for a 9.7% quarterly increase and Clime Capital held $163 million for an 8.7% increase.
The firm also reported the Clime Smaller Companies fund had returned 100% since inception on April 2017 and exceeded $90 million in FUM.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.