Commenting on the results, Blue Sky said its 60 per cent profit increase from $3.89 million in 2013 was due to the “mainstreaming of alternative assets” as an investment choice.
“Alternative assets are the fastest growing asset class in Australia, with allocations increasing from five per cent in 1997 to more than 17 per cent today,” a statement from Blue Sky said.
“[The] launch of the Blue Sky Alternatives Access Fund in June 2014 was an important milestone. More than $60 million was raised to deploy across Blue Sky funds and provide investors with a listed, diversified exposure to the company’s alternative asset investment opportunities,” it said.
Blue Sky founder and managing director Mark Sowerby said the 2014 financial year marked another year of progress for the company.
“We have worked hard to deliver strong investor returns in our underlying funds over a significant period of time, and this persistence is being rewarded with increased investor engagement and quality deal flow,” said Mr Sowerby.
“Expansion into Sydney and Melbourne, as well as substantial investment in our team gives us a superb platform from which to broaden our investment and investor horizons,” he said.
Blue Sky also said that in the last 12 months it had doubled its assets under management from approximately $340 million to more than $700 million.
