Australian Unity Investments FUM steady at $12.2 billion
Australian Unity Investments saw its funds under management (FUM) increase by 2.5 per cent to $12.2 billion in 2011-12.
The investment division of Australian Unity reported earnings before interest, tax, depreciation and amortisation of $12.49 million for 2011-12.
Within the equities portion of the Australian Unity Investments stable of boutiques:
- Wingate Asset Management grew its FUM to $57 million from $45 million in 2011-10;
- Asian equities management Seres Asset Management saw its FUM decline to $40 million;
- microcap manager Acorn Capital saw its FUM hold steady at $1.2 billion; and
- Platypus Asset Management saw its FUM decrease to $950 million.
As for fixed interest, Vianova Asset Management's FUM remained steady during 2011-12 at $5 billion.
Australian Unity increased its presence in the unlisted property market in October 2011 with the acquisition of the responsible entity for Investa Property Group's retail property funds business.
The acquisition boosted Australian Unity's unlisted property portfolio to $1.7 billion at 30 June 2012.
Australian Unity as a whole (including its funds management, financial services and healthcare divisions) posted a net profit after tax of $22.3 million, down 12.8 per cent on the previous year.
The company saw revenues of $1.12 billion, up 10.6 per cent on 2010-11.
Funds under advice within the Personal Financial Services division were up 91 per cent on the previous year to $1.96 billion.
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