Treasury Group, a provider of funds management services in Australia, has reported a 54% rise in its net profits to A$10.4 million for the fiscal year ended 30 June 2013, compared to A$6.7 million for the fiscal year 2012.
Revenue increased 9.1% to A$4.3 million for the year, compared to A$3.9 million in the year ago period.
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The company said it reported growth in various sectors mainly due to better performances from RARE Infrastructure (RARE), Investors Mutual Limited (IML) and Celeste Funds Management (Celeste).
Total funds under management (FUM) at 30 June 2013 amounted to A$17.1 billion, an increase of 5%, when compared to the same period in 2012.
Net funds inflow, both retail and institutional, to the three boutiques for the 12 month period totalled A$1.7 billion, compared to A$0.9 billion in 2012.
Treasury Group CEO Andrew McGill said, "This is a strong result for the Company, underpinned by strong contributions from RARE, IML and Celeste together with the realisation of cost saving initiatives implemented in the previous year.
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By GlobalData"We have seen a trend towards higher margin retail funds in our FUM mix which significantly contributes to the Company’s profitability and return to shareholders," McGill said.
