Fiducian (ASX: FID) Reports Positive September Quarter with 14.5% Increase in FUMAA

October 17, 2024 04:42 PM AEDT | By Aditi Sarkar

Fiducian (ASX: FID) Reports Positive September Quarter with 14.5% Increase in FUMAA — Image source: Company update

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Highlights

Funds under management, administration, and advice (FUMAA) reached AU$14.2 billion at September 2024 end, up 14.5% YoY.

The company reported net inflows of AU$101 million in the latest quarter, up from AU$60 million in the same quarter last year.

Fiducian Group Limited (ASX:FID), a diversified financial group listed on the ASX, has released its financial and operational results for the recent quarter ended 30 September 2024.

Following the announcement, Fiducian's shares jumped by approximately 3%, trading at AU$9.05 as of 17 October 2024.

In its quarterly report, Fiducian reported healthy growth in net inflows to its core platform, reaching AU$101 million, up from AU$60 million in the same quarter last year.

As of 30 June 2024, the badged platform and Auxilium fund balance was AU$102 million, with net inflows for the September quarter totaling AU$22 million, a notable recovery from the AU$84 million net outflow recorded in September 2023 quarter.

Additionally, net outflows from legacy IFAs decreased to AU$13 million, down from AU$15 million the previous year.

Funds under management, administration, and advice (FUMAA) stood at AU$14.2 billion as of 30 September 2024, compared to AU$12.4 billion in September 2023.

The company ended the quarter with cash and cash equivalents of AU$23.895 million.

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