Weaker $A and markets favour BTIM
BT Investment Management (BTIM) has posted a strong first half, reporting a cash net profit after cash of $66.5 million for the six months ended 31 March.
BTIM chief executive, Emilio Gonzalez's announcement described the outcome as a "quality result"
He said the business was performing extremely well and demonstrating the benefits of a diversified portfolio with strong investment performance.
"We are delivering growth in funds under management (FUM) and base management fees in both our domestic and offshore businesses as a result of investing in new teams, products, and continuing to expand our global footprint," he said.
Gonzalez said the company had record FUM growth of $10.7 billion driven by strong demand for JO Hambro Capital Management (JOHCM) equity funds, rising markets, a weaker Australian dollar and continued demand for domestic income products.
Looking over the remainder of the financial year, Gonzalez said the company remained focused on its long-term growth strategy.
"We have invested in new markets, teams and products all of which are now contributing to the growth of the business," he said.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
