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Highlights
- Net inflows to FID’s core platform increased to AU$53 million in the quarter ended 31 March 2024.
- Funds under management, administration, and advice reached AU$13.7 billion.
- The quarter ended with a cash and cash equivalent balance of approximately AU$20.42 million.
Fiducian Group Limited (ASX: FID), a financial services provider based in Australia, has released its quarterly report, unveiling its performance for the period ended 31 March 2024.
Key financial metrics
Fiducian Group experienced notable net inflows of AU$53 million to its core platform during the reported quarter, marking a slight increase from AU$52 million in the same period last year. The year-to-date net inflows reached AU$139 million.
Wholesale investors channel funds into the badged platform and Auxilium for their respective transactional needs, and these funds can be withdrawn anytime. These funds, amounting to AU$209 million as of 30 June 2023, witnessed a withdrawal of AU$100 million year-to-date as of March 2024.
Fiducian Group reported growth in funds under management, administration, and advice (FUMAA), reaching AU$13.7 billion as of 31 March 2024. This represented a substantial increase from AU$12.3 billion in the corresponding period last year.
At the end of quarter, cash and cash equivalents balance stood at approximately AU$20.42 million.
Fiducian Group continues to leverage its comprehensive suite of financial services, including investment and superannuation platforms, funds management, financial planning, wealth management, and innovative technology solutions.
FID shares traded at AU$7.800 apiece at the time of writing on 19 April 2024, up 2.6% from the last close.