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The Royal Commission had recently released the final report which was awaited by the market participants. These participants were eagerly waiting for the final report and they wanted to know how the final report from The Royal Commission could affect the performance of the big banks.
IOOF Holdings Limited (ASX:IFL) had come forward and issued a release which contained information related to its response to the Final Report of Royal Commission. As per the release dated February 5, 2019, the company stated that they have been undertaking a thorough review with respect to the recommendations. The issued release also contained information related to viewpoints of the companyâs top management.Â
The acting CEO (or Chief Executive Officer) of IOOF Holdings Limited named Mr. Renato Mota had stated that the company is supportive of the recommendations which would help in leading stronger as well as better financial services industry for benefit of the people of Australia. The companyâs acting CEO added that cultural as well as governance changes which are implemented by the company places it in the good position so that the future regulatory requirements can be met. It would be supporting the superannuation members as well as investorsâ long-term prosperity.
Not so long ago, IOOF Holdings Limited had come forward and made an announcement related to the funds under management, administration, advice and supervision. The announcement which was made contained information related to three months as well as six months ended December 31, 2018. The issued release stated that the company FUMA was supported by transition of 661 advisers as well as $17.3 billion of the funds under advice from the former dealer groups which were ANZ aligned. IOOF Holdings Limited had total FUMA of $137.8 billion at the end of December 31, 2018. The release also had information related to the segment-wise net flows for the December 2018 quarter. With regards to the December 2018 quarter, platform segment saw net inflows amounting to $403 million while the advice segment saw net outflow amounting to $295 million. However, during the same period, the investment management segment witnessed net outflow amounting to $186 million.
We would also be having a look at how IOOF Holdings Limitedâs stock had performed today and how it has been performing from the past few months. On February 5, 2019, IOOF Holdings Limitedâs stock closed the session at A$5.270 per share which implies the rise of A$0.390 per share or 7.992%. The market capitalisation of IOOF Holdings Limited happens to be ~$1.71 billion. The stock price of the company is trading towards the lower level. The annual dividend yield of IOOF Holdings Limited stood at 11.07%. Talking about the past performance, the stock had given the return of -45.84% in the previous six months while, in the previous three months, the stock had delivered the return of -31.07%. In the span of previous one month, IOOF Holdings Limitedâs stock gave -4.50% return.
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