News and Announcements
iFAST Corp raised a record high Assets Under Administration of S$6.46 billion
- Published April 28, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
iFAST Corporation Ltd. reported its financial results for the first quarter of 2017.
Following a difficult 2016, the company started Q1 of 2017 on an encouraging note. The Company’s Assets Under Administration (AUA) increased 17.2% Year over Year to hit a record of S$6.46 billion as of 31 March 2017.
KEY TAKEAWYS:
- Following a difficult 2016, 1Q2017 started off on an encouraging note. The Group’s Assets Under Administration (AUA) increased 17.2% YoY to hit a record high of S$6.46 billion as at 31 March 2017
- The core markets in the Group all hit record high AUA levels; Singapore’s AUA (+13.8% YoY), Hong Kong’s AUA (+17.3% YoY); and Malaysia’s AUA (+33.5% YoY)
- The Group’s revenue and profitability improved significantly; net revenue increased 19.4% YoY in 1Q2017 to S$11.17 million, while net profit rose 60.7% YoY to S$2.01 million (excluding China operation, net profit rose to S$2.95 million)
- In the last two years, the Group has been busy broadening the range of products and services as an investment platform as it believes that it needs to position itself well for the potential growth opportunities and changes in the wealth management industry in Asia
- In addition to this, the Group believes that its improved IT solutions and focus on giving transparent pricing, research and information to clients, puts it on a strong footing to grab a potentially larger slice of the wealth management industry
iFAST Corp (AIY) a Singaporean Company, is an Internet-based investment products distribution platform, with assets under administration (AUA) of approximately S$6.46 billion as of 31 March 2017.
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