IOOF Holdings Ltd
(ASX:IFL) has announced it has received $998 million in net flows in funds under management, administration and advice (FUMAS) for the third quarter of the 2017 financial year.
It represents a $645 million increase from the prior corresponding period. The financial services company says it was fuelled by their strong market offering and an increase in new advisers.
The momentum is also set to continue with into the fourth quarter, while the increase in funds under management will bolster the company’s 2017/2018 revenue.
IOOF says the strong investment inflows highlights its strength in the wealth management industry and its ability to drive organic growth
Shares in IOOF Holdings Ltd
(ASX:IFL) are 0.35% higher at $8.52.
