Financial services firm Wilson HTM Investment Group on Friday posted preliminary half-year results which showed a turnaround in profitability and a 56 per cent boost in funds under management (FUM).
Unaudited net profit after tax and minorities for the six months to 31 December 2009 stood at $8.1 million, compared to a $300,000 net loss in the previous corresponding period.
Wilson HTM’s FUM ended the year at $10 billion, up 56 per cent from $6.4 billion at 30 June.
“FUM growth was predominantly driven by inflows in the Pinnacle house of boutiques, which continues to build momentum after reporting strong growth in FUM over the previous two quarters,” Wilson HTM said.
Pinnacle holds equity interests in a number of specialist investment managers and in conjunction with Wilson HTM provides them with capital, seed funding, infrastructure and other support services.
The firm’s specialist investment managers include Plato Investment Management, Hyperion Asset Management, Palisade Investment Partners, Resolution Capital and Solaris Investment Management.
Wilson HTM said it expects to release the final financial results for the period, following review by the auditors, on 24 February 2010.
