The wealth management firm is expecting its underlying NPAT for the year to be in the range of $5.7 million to $6.2 million, an increase of 19 per cent year-on-year.
Australian Ethical increased its funds under management (FUM) by 10 per cent to $3.13 billion for the quarter ending 31 March, up from $2.85 billion as at 31 December.
The firm said the increase was predominantly driven by strong market movements.
Managed funds came to $1.06 billion in FUM, up by 10 per cent with $10 million in net flows.
In superannuation products, FUM increased by 9.5 per cent to $2 billion, with $60 million in net flows.
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
