Clime reports 'material increase' in profit

Clime/

21 July 2021
| By Chris Dastoor |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND