IOOF Holdings Announces FUMAS for period ended 31 December 2017

IOOF Holdings Limited (ASX: IFL, OTC: IOOFY) has achieved positive net flows of $895 million in funds under management, administration and advice (FUMA) for the second quarter of the 2018 financial year (prior comparative period (pcp): $528 million, up 70%).

Total FUMA as at 31 December 2017 totalled $120.0 billion. Funds under supervision were $34.6 billion.

Advice flows were $696 million for the quarter (pcp: $538 million, up 29%). Total funds under advice from the 43 advisers who have joined the Group from another licensee is now $1.6 billion. A further four advisers from that licensee transitioned to IOOF in January 2018, bringing the total number transferring to 47 advisers to date.

IOOF Managing Director, Christopher Kelaher, commented, “IOOF’s advice-led business model, best exemplified by our use of open architecture, distinguishes us from our peers. Being advice-led attracts new advisers and provides the foundation for our strong flows. Our Advice Academy remains fully subscribed and shows our commitment to improving the quality of financial advice for all Australians.”

IOOF recorded a 20th consecutive quarter of positive platform net inflows with $308 million (pcp: $250 million, up 23%). Organic growth within IOOF’s flagship platforms continued with a quarterly net inflow of $315 million (pcp: $207 million, up 52%).


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