Australian Ethical has reported a net profit after tax of $3 million for 2015-16, up 53 per cent on the previous year.
Revenue was up 8 per cent to $23 million, and a final dividend of $1.80 has been announced by the board (up 50 per cent on 2014-15).
Group funds under management were $1.56 billion as at 30 June 2016 (up 33 per cent), and net inflows for the year were $319 million (up 78 per cent).
Commenting on the results, Australian Ethical managing director Phil Vernon said 2015-16 was a year of “unprecedented growth” for the company, signalling a “coming of age” for ethical investing.
“We can see firsthand that increased shareholder and investor demand for responsible investment is shifting capital out of the old fossil fuel-based economy into a new economy based around renewable energy, improved energy efficiency and sustainable products,” Mr Vernon said.
“People are seeing that they can look after the planet through their investment in professionally managed, fully featured superannuation and investment products, and do not have to sacrifice returns to do so. This growing realisation is reflected in our continued strong growth in new clients and inflows.
“Ethical investing is at a tipping point. As investors become increasingly concerned about the effects of climate change, they become more frustrated with the lack of political action and look for opportunities to use the power of their investments to drive positive change,” Mr Vernon said.
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