Powered by MOMENTUM MEDIA

Australian Ethical records 21% uptick in FUM

— 1 minute read

Fund manager Australian Ethical has announced a 21 per cent rise in funds under management of $3.42 billion for the financial year 2019 off the back of continued super membership growth.

Revenue arising from the increase in FUM was partially offset by the managed fund fee reductions implemented in October 2018 as the benefits of increasing scale are passed on to customers, Australian Ethical said in a statement to the ASX.

Net profit after tax rose 29 per cent to $6.5 million in FY19, while revenue increased 14 per cent to $41 million.

Advertisement
Advertisement

Australian Ethical also revealed positive net flows (excluding institutional) of $322.1 million in FY19, compared with $372.5 million in FY18.

It said the lower net flows in FY19 were due to lower super rollovers and reduced managed fund flows following volatile investment markets in the first half.

Meanwhile, membership reached 43,079 members in FY19, with funded members growing 11 per cent from the previous corresponding period.

“For over 30 years Australian Ethical has aimed to be the proof point that you can achieve strong investment returns while caring for the planet and society,” said Australian Ethical managing director Phil Vernon.

“We’re proud to continue to set the standard for ethical investing in this country.”

 

Australian Ethical records 21% uptick in FUM
Growth
ID logo
Adrian Flores

Adrian Flores

Adrian Flores is a features editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected]

related articles

promoted stories

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.