Income Asset Management Announces Annual Operating Revenue Up 728%
From a liquidity brokerage firm to a sophisticated income investing solution, Income Asset Management is a successful turnaround.
Listed investment company Income Asset Management (ASX: INY) came out of the blocks to be in a strong position for the new fiscal year with substantial growth across a number of key metrics.
IAM’s total revenue grew 728% year-over-year to $ 2.03 million, while quarterly operating revenue increased 37%.
Group operating revenues for the first quarter of fiscal 22 were 804% higher at $ 1.93 million compared to the prior corresponding period (pcp) of $ 214,000.
IAM shows a continuous increase in operating revenues, assets under management and transactions in the debt market.
Its balance sheet cash flow remains solid and supports the group’s continued investment in bond trading. Cash and obligations on the balance sheet amounted to $ 12.06 million for the first quarter of fiscal 22.
Focus on building a sustainable model
The turnover of the wholly-owned subsidiary IAM Capital Markets increased by 46% compared to the previous quarter, reflecting the strong growth of the group in primary and secondary trading. Transaction volumes increased 48% quarter on quarter (QoQ).
The group had the largest debt capital market (DCM) organized for Capital Alliance Investment Group.
Fortlake Asset Management, which is part of IAM’s fund incubation business, has seen fund growth outperforming benchmarks.
Meanwhile, Fortlake’s Sigma Opportunities fund was named the top performing Asia-Pacific income strategy by capital market firm Preqin.
IAM’s investment in Tactical Global Markets Ltd is well positioned to be finalized this month.
Target sophisticated and professional managers for growth
IAM has recently changed its name and has experienced substantial growth over the past 12 months, moving from a liquidity brokerage business to investment solutions in cash management, treasury, bonds and money management. assets for sophisticated investors and professional managers.
IAM CEO Jon Lechte said the quarterly results represented a significant turnaround for the company.
âAll parts of the business are now contributing to our growth to ensure that clients enjoy unparalleled access to fixed income investment opportunities,â said Lechte.
âOur support teams strive to provide best-in-class customer service in all aspects of customer interaction with the group. “
Lechte said the company anticipates further growth as lockdowns from COVID-19 begin to ease.
âDespite the extended lockdown in Sydney and Melbourne slowing our progress up the ladder as restrictions are relaxed, we plan to accelerate growth with new customers and a larger, more sustainable business.â
James Shillington, IAM’s professional fixed income investor, said Storer in September that recent market events helped prove the added value of sophisticated fixed income strategies.
A significant episode of volatility hit global markets in September, resulting in fears of contagion around Chinese real estate developer Evergrande.
This article was developed in collaboration with Income Asset Management, an advertiser for Stockhead at the time of publication.
This article is not advice on financial products. You should consider getting independent advice before making any financial decisions.