Clime Capital (CAM) H2 2024 earnings summary

Executive summary

• Completed sale of Madison financial services licence and WealthPortal, refocusing on core funds and account management.

• Secured new mandates, including Clearwater, expected to deliver $0.8 million in annual recurring revenue in FY25.

• Group Funds Under Management (FUM) rose to $1.6 billion, up 21.5% during Q4.

Financial highlights

• Total FUM increased from $1,308 million to $1,590 million, a $282 million or 21.5% rise quarter-over-quarter.

• Managed Funds FUM grew by 21.5% to $271 million; Mandates and directed FUM surged 322% to $356 million.

• Private Wealth Funds Under Advice (FUA) increased 2.0% to $984 million.

• Clime All Cap Fund and Small Companies Fund delivered gross returns of 15.40% and 15.82% respectively for FY24.

Outlook and guidance

• Focus remains on value management, education, and service excellence post-Madison sale.

• Ongoing review of operations to identify cost savings and redeploy investment toward growth.

• Expansion in distribution and new mandates expected to support FUM growth in FY25.

• Audited FY24 financial report to be released in late August.