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Raiz Invest Limited (ASX:RZI) is an Australian company forming a part of the diversified financial industry. It allows customers to invest small or large amounts in or outside superannuation, through its app or website. Launched in 2016, RZI has outperformed with over 600,000 signups, over 175,000 active monthly customers and $254 million funds under management as at 31 December 2018. The company has won Australiaâs Investment Innovator of the Year (2017 and 2018) and the 2018 Australian FinTech Award for FinTech Innovation in Wealth Management (Robo-Advice).
Today, the company has declared its monthly Funds Under Management (FUM) & Active Customers report for December 2018. The company reported a total FUM of $254.18 million of which the Retail segment contributed $225.76 million, and Superannuation segment contributed $28.42 million as on 31 December 2018 although the company reported an increase in FUM of 1.8% in November 2018 with 1% and 8.3% growth in the Retail and Superannuation segment respectively.
Decemberâs performance was down by 1.2% over the previous monthâs FUM of $257.37 million. Although the superannuation segment grew by 4%, the decrease in FUM was driven by its major contributor, i.e., the Retail part which was down by 1.9%.
Importantly the company continued to experience investment fund inflows totalling approximately $6 million during December. During the last quarter to December, the Company achieved two months of positive cash flow and growth in normalized revenue in line with the normalized revenue growth achieved in the first quarter of FY2019.
The company reported an increase in customer sign-ups by 2.1%. It reported 6.3,589 customer sign-ups at the end of December 2018 as compared to 590,951 sign-ups at the end of November 2018. Investment accounts also went up to 277,021 at the end of December 2018 as compared to 272,170 at the end of November 2018 with a growth of 1.8%. However, the growth in Active customers was very little with an increase of 0.2% marked at 175,345 as compared to 175,052 at the end of November, but it reported growth in December as compared to a fall of 0.8% in November 2018.
As per the comments of its CEO George Lucas, the company is well funded to focus over its growth strategy entailing growth in customers, FUM and revenue per customer, expansion in the Southeast Asian region, and strengthening the market position by delivering a continuous cycle of platform improvements.
On 18 December 2018, the company secured the Mutual Fund Selling Agent (APERD) license from the Indonesian Financial Services Authority (OJK) to distribute Mutual Funds in Indonesia through its subsidiary PT Raiz Invest Indonesia. It has set up an office in Jakarta with three employees.
Now, let us quickly look at the performance of Raiz Invest Limitedâs stock and the return it has posted over the last few months. The stock is currently trading at $0.490 with a surge in price by 2.083% over the previous trade. Since its listing on ASX in June 2018, the stock has generated a negative return of 65.71%. The fund has ~66.23 million shares outstanding with the market cap of circa $31.79 million.
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