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Showing 851 - 860 of 6744 results for "Profit"

Magellan promises better investment performance

KARREN VERGARA  |  FRIDAY, 18 FEB 2022
... stability and simplicity to the business," she said. Despite the major setbacks, Magellan made $251.6 million in statutory profit after tax in the interim reporting period, up 24% year on year. Excluding the St. James's mandate, this comes down to ...

Mixed results for Netwealth

CHLOE WALKER  |  THURSDAY, 17 FEB 2022
Netwealth reported a mixed half year result with increased profits, a higher dividend but also higher expenses. The platform reported total revenue of $84.7 million, which was up 17.1% on the previous corresponding period. Netwealth said it had "strategically ...

WealthO2, ROAR and NEO merge

ELIZABETH MCARTHUR  |  THURSDAY, 17 FEB 2022
Managed accounts platform WealthO2 has merged with financial planning software firm ROAR Software and wealth platform software specialist NEO. Wealth02 chief executive Andrew Whelan said the merger will significantly grow the business. "The coming together ...

Challenger delivers strong result

ELIZABETH MCARTHUR  |  THURSDAY, 17 FEB 2022
... growth was up 8.4% or $1.4 billion. In Challenger's funds management business, AUM grew 20% to $109 billion. Normalised net profit after tax (NPAT) was up 21% to $166 million, and statutory net profit after tax increased by 27% to $282 million and included ...

The Advisers Association appoints chair

CHLOE WALKER  |  WEDNESDAY, 16 FEB 2022
... appointment, Beimers said he is delighted to take over as chair of TAA. "I'm delighted to take over as the chair of TAA, a non-profit, member-based association with a long history going back to before 1925," he said. "We will be working with and ...

Sequoia makes three appointments

ELIZABETH MCARTHUR  |  TUESDAY, 15 FEB 2022
Sequoia Financial Group announced the appointment of three executives to bolster its national advice network. Barry Strapps has joined as regional manager for South Australia and Western Australia. He joined InterPrac last year and prior to that worked ...

Record FUA, revenue for Praemium

KARREN VERGARA  |  MONDAY, 14 FEB 2022
Despite reporting record growth in revenue and funds under administration, Praemium failed to make a profit in the half-year to December. The platform's revenue increased by 25% to $39.2 million, while total FUA increased by 43% to $49 billion. ...

Brookfield mulls spinning off AM business

JAMIE WILLIAMSON  |  FRIDAY, 11 FEB 2022
Brookfield is considering its future, saying it may look to spin off its asset management business into a separate public company. In a letter to shareholders, Brookfield Asset Management chief executive Bruce Flatt said the firm is weighing whether ...

Rainy day funds probed

ELIZABETH MCARTHUR  |  FRIDAY, 11 FEB 2022
... while many retail funds have parent companies that can be relied upon to pay for any possible fines and sanctions, not-for-profit funds have had to go to the Supreme Court to alter their trust deeds to create pools of capital - referred to as rainy day ...

Mine unions pressure funds over Rio

ELIZABETH MCARTHUR  |  FRIDAY, 11 FEB 2022
... Australian Workers' Union (AWU) and the Mining and Energy Union (MEU), said Rio Tinto has an "appalling workplace culture and profit-at-all-costs approach" which should not be tolerated by super fund investors. The WMWA has written to 13 super funds ...