Funds Management News

Macquarie posts 56% profit jump

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

The firm has announced its results for the full year ending 31 March. Macquarie Group has reported a net profit after tax of $4.7 billion for the 12 months to 31 March, an increase of 56 per cent on the previous year. The firm’s assets under management (AUM) reached $774.8 billion during the period, up 37 per cent on a year earlier, which Macquarie largely attributed to its acquisition of Waddell & Reed Financial, AMP Capital’s private investment business and Central Park Group along with investment by private markets-managed funds and net inflows in public investments.

“While many of the regions and markets in which Macquarie operates saw heightened levels of volatility this year, our outstanding strategy to address key areas of unmet need in the community is unchanged,” said Macquarie Group MD and CEO Shemara Wikramanayake. “Over time, this has seen us build deep and differentiated franchises in each of our areas of activity, all of which delivered sound outcomes and strong performance in FY22.” The firm reported a 92 per cent increase in net profit contribution from market-facing activities undertaken by Macquarie Capital as well as its commodities and global markets businesses to $5.3 billion.

The rest of this article can be found at investordaily.com.au.

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