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Source: IOOF
IOOF’s Q4 results also said its newly acquired MLC assets under management and funds under administration were $301.2 billion, up $11.4 billion. It noted that currently IOOF and MLC used different reporting methodology and that an aligned approach would be presented for their full year results.
On the investment management side, FUM increased by $1.4 billion, up 6.2% to $23.5 billion, including $90 million in organic positive flows and market movements.
“These robust organic net inflows reflect the strong support from advisers for the IOOF MultiSeries funds, which offer competitive pricing, strong investment returns, and increasing client engagement through investment central,” it said.