IOOF Holdings Announces (FUMAS) for the Three Month Period to 30 September 2017

IOOF Holdings Limited (ASX: IFL, OTC: IOOFY) has achieved positive net flows of $669 million in funds under management, administration and advice (FUMA) for the first quarter of the 2018 financial year. Total FUMA as at 30 September 2017 totalled $115.2 billion. Funds under supervision were $32.5 billion.

IOOF recorded a 19th consecutive quarter of positive platform net inflows with $309 million (prior comparative period (pcp): $151 million). Organic growth within IOOF’s flagship platforms continued with a quarterly net inflow of $364 million (pcp: $149 million).

IOOF Managing Director, Christopher Kelaher, commented, “Strong net inflows into our flagship platforms are particularly pleasing. It shows clients value service excellence and that is what delivers significant flows” said Mr Kelaher.

Advice flows were $512 million for the quarter (pcp: $327 million). Total funds under advice from the 38 advisers who have joined the Group from another licensee is now $1.2 billion.

“IOOF continues to be an attractive alternative for advisers looking to partner with a specialist advice-led group. Our adviser centric strategy, open architecture and the IOOF Advice Academy continue to set us apart from our peers” said Mr Kelaher.

Investment management flows were impacted by the timing of distributions which are recognised as a net outflow. Distributions often result in a lag to reinvestment while awaiting client instructions.

 “Organic growth is a key part of our advice-led strategy. Strong organic growth, complementary acquisitions and a continued focus on efficiencies sees us well positioned for the future” said Mr Kelaher.

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