In its annual financial report, the listed investment company also announced a 15 per cent increase in its assets under management and advice (AUMA) to US$7.6 billion for the 12 months to 30 June 2013.
“This year’s result reinforces the firm foundations that the group has been building on over the past few years. We have a strong belief in the strategy of both our US and Australian businesses, which continue to build out at a steady pace and will allow our shareholders to see tangible benefits in the coming years,” Spencer Young, HFA chairman stated.
HFA paid a final dividend of three cents per share, fully franked, bringing the total dividend for the year to six cents per share.
Meanwhile, Lighthouse Partners, the US-based investment management arm of HFA, increased its AUMA by 19 per cent to US$6.8 billion. This was in contrast though to Australian fund management subsidiary, Certitude Global Investments, which reported a AU$16 million reduction in AUMA to AU$0.91 billion.
“Certitude has done well to maintain its AUMA over the past year and in the second half of the 2013 financial year the business consistently delivered positive net flows in its open-ended products.... [However] it is only a matter of time before money moves away from term deposits and into more actively managed asset sectors,” said Mr Young.
HFA said the 2013 result demonstrates the business’ commitment to create and distribute quality global investment solutions to its clients.
“The group’s 2013 result is a positive step forward on our strategic path. Growth in our industry will come from providing clients with not just sound portfolio management services, but a more holistic investment solution, involving investment, risk management, administration and reporting services,” Mr Young stated.
