Financial services provider ClearView has posted an underlying net profit after tax of $9.9 million for the half-year ending 31 December 2014.
In a statement to the ASX, ClearView reported its half-year profit was up nine per cent on the previous period, growing $0.8 million.
ClearView highlighted it experienced an increase of nine per cent in its funds under management and its platforms throughout the year to $1.77 billion.
“[This was] driven by positive investment markets with positive net flows of $26 million in the six months to 31 December 2014,” a statement from ClearView said.
“This predominantly reflects the successful introduction of the WealthFoundations product and the continued growth of WealthSolutions,” it said.
The financial services provider also reported growth in its in-fore life insurance premiums and in new life insurance business, growing 37 and 32 per cent respectively.
Commenting on the result, ClearView managing director Simon Swanson said the company is “well positioned” for continued growth
“It is exciting to be part of a growing organisation such as ClearView as reflected by the performance of our business,” Mr Swanson said.
“The first half of the [2014/2015] financial year included the successful merger and integration of Matrix, the upgrade to our LifeSolutions product range and the launch of WealthFoundations.”
“ClearView continues to execute on its strategic plan and remains well positioned for continued growth with a supportive shareholder base,” he said.
The COVID crisis has revealed how central banks have amplified wealth inequality in recent years, according to Schroders, with its head of A...