Blue Sky Alternative Investments has reported a 68 per cent increase in net profit after tax, coming in at $10.4 million for the year ending 30 June 2015.
Blue Sky's net profit after tax increased by 68 per cent – up from $6.2 million in 2014 to $10.4 million for the year ending 30 June 2015.
Mark Sowerby, Blue Sky founder and managing director, said the results reflect an increasing demand for alternatives from private investors.
“Our funds give investors access to opportunities in private markets. This is where the new ideas and growth companies of the future will be found,” Mr Sowerby said.
“We have worked hard to build a strong, trusted brand in a country where alternative investments have historically been misunderstood, and it is paying off.
“Alternative assets are the fastest-growing asset class in Australia. Investors are looking beyond traditional investment strategies,” he said.
Blue Sky recorded an 82 per cent increase in revenue to $43.6 million for the year.
The company also reached $1.35 billion in fee-earning assets under management (AUM), up from $700 million last financial year.
According to a Blue Sky statement, the company is on track to achieve $2 billion in AUM by the end of calendar year 2016.
“Every single one of our divisions has attracted institutional capital now, which is a great demonstration of trust, and a natural evolution as our business matures,” said Mr Sowerby.
JP Morgan Asset Management has signed on to a new service from global funds network Calastone, introducing automated settlements to its Morg...
The Australian market for impact investments, which aims to deliver social or environmental impact alongside a financial return, is reported...
The bank has taken a grim outlook on the COVID-19 crisis and has provisioned for downside economic scenarios. ...