Australian Ethical’s underlying profit after tax for financial year 2021 was reported at $11.1 million, an increase of 19 per cent on their 2020 results.
The firm stated that key to their increased profits has been a change in sentiment seen throughout the investment community, with more becoming keen to ensure their investments are having a positive ESG impact.
Australian Ethical has attributed this as the reason their customer base grew by 23 per cent in FY21, with more existing clients also moving further funds under management towards the firm.
Funds under management between new and existing customers were reported at $6.07 billion, a 50 per cent increase on last year.
“It has been a pivotal year for ethical investing with climate pledges and sustainable commitments being made around the world,” said John McMurdo, Australian Ethical chief executive and managing director.
“Our ethical investment approach is rapidly gaining popularity due to our climate-friendly portfolios that achieve strong performance, as our award-winning products achieve record net inflows.”
Australian Ethical stated it will continue to strengthen its product offering, scale and brand awareness in the year to come.
“More broadly, our strategic focus remains on deepening our investment capability, expanding our product offering, growing our brand awareness, fully digitising and upgrading the customer experience and significantly expanding our customer base,” said Mr McMurdo.
