OneVue Holdings Limited – Slipped on ASX despite decent quarterly update

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OneVue Holdings Limited (ASX:OVH) released its Quarterly key business measures update for the quarter ended 30 June 2018 wherein the Fund Services Managed Funds Administration grew by 15.6% on Q-o-Q basis and 55% on Y-o-Y basis and accounted to 104,780 total number of items processed during the quarter while managed fund administration funds under administration (FUA) increased by 6.8 per cent to $503.9 Bn at the back of adding four new fund managers and positive market sentiments. The NAB fund transitions continued adding two more NAB fund managers and progressing with the additional transitions during the period. OneVue Superannuation Member Administration Services had reported an FUA of $4.37 Bn, representing 92 per cent rise on Q-o-Q basis and 123% rise on the Y-O-Y basis. This growth was boosted by recently acquired KPMG Superannuation Administration (KPMG) business and its existing clients. Platform Services retail FUA recorded at $4.39 Bn as at 30 June 2018, showing 6.6 per cent growth on Q-o-Q basis and 9.2 per cent on pcp basis. Gross quarterly inflows for June 2018 from new and existing clients of $301.3 Mn were up by 33 per cent on pcp basis, further building on the strong momentum and taking gross inflows to $1.6 Bn for the last 12 months.

With this news, the stock tumbled 5.8 per cent with the intra-trading volume of more than 1.1 Mn. The stock traded at $0.805 with the market-cap of circa $226.01 Mn as on July 31, 2018 (AEST: 2:31 P.M.).

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