Fiducian Group (ASX:FID) reports growth in FUMAA in March 2022 quarter - Kalkine Media

Highlights

• FID’s business has reflected resilience with its strong past performance, delivering growth across key metrics.
• Net inflows in the Fiducian platform for the quarter ending March 2022 stood at AU$60 million.
• FID remains in a strong position and continues to serve its clients through premium wealth services and solutions.

Specialist financial services company Fiducian Group Ltd (ASX:FID) has been reporting good growth over recent periods. Continuing the trend, the Company has reported notable growth in its Funds Under Management, Administration and Advice (FUMAA) during the recent quarter ended 31 March 2022.

In tandem, FID has also delivered decent returns to its shareholders with a 16.28% appreciation in its stock price over the past year till 27 April 2022. The Company has been consistent in paying dividends to its shareholders.

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Let us look at FID’s recent stance.

Increase in FUMAA

For the quarter ended 31 March 2022, net inflows in the Fiducian platform stood at AU$60 million and year-to-date figures came in at AU$223 million as compared to AU$147 million for March 2021 YTD. As at 31 March 2022, the Company’s FUMAA stood at AU$12 billion, which was AU$9.6 billion as at 31 March 2021, a 25% jump.

The numbers indicate that FID has witnessed good growth traction in the recent quarter. The Company generated AU$5,588,000 worth of net cash from its operating activities during the quarter.

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Source: © Ipopba | Megapixl.com

FID’s cash-and-cash equivalents at the end of the March quarter stood at AU$14,201,000.

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Resilient business amid uncertain environment

The company’s performance has been reflective of its ability to manage uncertainties of the COVID-19 pandemic by the disciplined execution of its business plans enabling it to further enhance its financial returns and fortify its balance sheet.

Source: © Endostock | Megapixl.com

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The Company has a national network of more than 60 financial planners and has offices in capital cities and regional centres around Australia.  

Bottom Line

FID has enhanced its stance for further success as the economy reopens and rebounds. FID continues to deliver premium wealth services and solutions for its clients.

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