MA Financial shares rise on Q3 AUM growth
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More news: MA Financial shares advanced on the ASX after the asset manager posted an 11% rise in assets under management for the September quarter.
MA Financial shares were up 3.9% to $6.48 by 12:05pm AEDT, extending gains of more than 55% over the last 12 months.
MA Financial posts 11% growth in Q3 AUM
The news: Asset manager and investment bank MA Financial posted an 11% rise in third-quarter assets under management (AUM), as well as continued growth in its Finsure and MA Money businesses.
The numbers: MA Financial said AUM grew 11% year on year to $9.9 billion during the September quarter.
The company saw record gross fund inflows of $1.6 billion for the nine months to 30 September, up 25% on the previous corresponding period. Net inflows of $924 million during the period climbed 6% year on year.
MA Financial's mortgage aggregation business Finsure grew its managed loans 24% year on year to $128 billion, and added 247 net new brokers in the third quarter.
The group's residential mortgage lender MA Money increased its loan book by 180% year on year to more than $1.7 billion.
Meanwhile, MA Financial said that $500 million of commitments have been received into the group's recently announced real estate credit vehicle for institutional investors.
The context: The group said it continued to experience positive underlying business momentum during the September quarter, including strong asset management fund inflows, ongoing growth in Finsure's managed loans and broker numbers, as well as strong MA Money loan volumes.
MA Financial flagged that the macroeconomic environment remains uncertain, slowing transactional activity and impacting corporate advisory, transaction and performance fees.
The source: ASX announcement
