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Certitude AUMA steady for September quarter

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By Samantha Hodge
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3 minute read

Certitude Global Investments (Certitude), a wholly-owned subsidiary of HFA Holdings (HFA), is pleased with its steady performance in the quarter ended 30 September despite challenging market conditions.

Certitude assets under management and advice (AUMA) have sat unchanged since 30 June 2012 at $0.928 billion.

The business also posted $17 million of net outflows, of which $9 million relates to close-ended structured products, off-set by a positive investment performance.

"[This is] an achievement given the domestic asset management market continues to be dominated by cash and term deposits," HFA Holdings said in a statement to the Australian Securities Exchange (ASX).

Certitude products have also demonstrated solid performance against their respective peers, and the business is receiving positive reception from various investor segments in relation to its funds and investment partners, HFA said.

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"Despite difficult market conditions for raising assets into products other than cash and term deposits in the Australian market, the Certitude business has continues to execute its strategy of bringing new global investment partners to market in the global equities and income space," HFA chairman Spencer Young said.

While Australian investors are likely to remain cautious in allocating away from cash in the short-term, Certitude plans to continue working with its investment partners to establish high-quality products that are liquid, transparent and simple.

This approach is expected to aid growth and profitability over the medium-term.

HFA Holdings, which comprises United States-based Lighthouse Partners and Certitude Global Investments, posted an overall AUMA increase of six percent to US$7.05 billion for the period supported by growth in positive inflows from the Lighthouse business.