HomeCo' (ASX:HMC) AUM surges to $2.5bn in FY21

Company News

by Lauren Evans

Home Consortium (ASX: HMC) heads for growth in assets under management (AUM) of $2.5 billion in the year ending 30 Jun 2021 (FY21), up 144 per cent from the prior year.

The retail property and investment group, expect AUM of $5 billion by end of 2022 and $10 billion two years later.

Despite a rise in AUM, total revenue reached $73,597, down $351 from the prior year. The company reported a loss after tax of $89,991, compared to $2,818 in FY20.

HomeCo transitioned to a capital light funds management model in less than 2 years since listing on the ASX, aimed to enhance equity returns and growth potential.

In light of this, the company delivered a 109 per cent total shareholder return since IPO in Oct-19, outperforming the S&P/ASX 200 A-REIT index by 101 per cent.

HomeCo delivered a final FY21 dividend of 6 cents per share while FY22 dividend per share guidance of 12 cents was reported.

Shares in Home Consortium (ASX:HMC) are trading 1.7 per cent higher at $6.09. 

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