Fiducian posts solid result
Publicly-listed financial services house, Fiducian Group Limited, has reported a strong full year result.
The company announced this week it had lifted its underlying net profit after tax by 22 per cent to $7 million on the back of solid inflows.
Chief financial officer, Rahul Guha, said funds under advice, management and administration increased 16 per cent to $4.7 billion while net revenue grew 27 per cent to $26 million.
The board declared a fully franked final dividend of seven cents per share.
Commenting on the result, Fiducian Group managing director, Indy Singh, said that while expenditure controls and profits remained a priority, the company would remain acquisitive.
"The Board intends to build scale and maintain its acquisition and distribution growth strategy to deliver consistent double-digit earnings growth in coming years," he said.
Recommended for you
Two former senior Global X employees have launched their own ETF provider, ETF Shares, focused on offering index ETFs for advisers and retail investors.
With GCQ Funds Management and Lakehouse Capital making their recent ETF debuts, the two fund managers unpack why financial advisers are essential to their respective launches.
ETF provider Global X is set to launch its latest ETF, focused on artificial intelligence infrastructure.
Index provider MSCI has unveiled two measures to make it easier for financial advisers and wealth managers to access transparent insights into private assets.
