Business Description:
IOOF Holdings Limited (IFL) is an Australian financial services provider, offering financial products and portfolio administration services including investments, superannuation, immediate and deferred annuities, and investment trusts, in addition to financial planning and advisory, stockbroking, estate planning and administration, and trustee services. At March 2011, IFL had $104.5 billion in Funds Under Management, Administration, Advice and Supervision.

Strategy Analysis:
IFL´s objective is to provide high-quality investment funds administration solutions and asset management capabilities. To ensure the company can deliver on this it offers: a range of investment management and administration solutions for investors and advisers; financial advice, technical and online services; boutique asset management through Perennial Investment Partners; and a growing financial advisory dealer group network. In line with the strategic priorities of the business, the company continues to focus on growth opportunities through the expansion of its wealth creation capabilities and distribution network. Examples include the creation of the platform product Pursuit, the launch of new investment products, and the launch of Consultum Financial Advisers, a dealer group combining Winchcombe Carson and Financial Partnership. Mergers and acquisitions with other wealth managers is a major focus, in order to drive efficiencies through economies of scale and remove duplicated back office functions. Acquisitions provide cross-selling opportunities as existing products can be sold to new clients and acquired products can be sold to existing clients. Scale increased significantly following the mergers with Australian Wealth Management and DKN. IOOF Holdings reported NPAT up 29% to $99.49m for the year ended 30 June 2011. Revenues from ordinary activities were $642.65m, up 3% from last year. Diluted EPS was 42.9 cents compared to 33.6 cents last year. Net operating cash flow was $122.2m compared to $92.68m last year. The final dividend declared was 22 cents, taking the full year dividend to 43 cents compared with 35 cents last year. The group's Funds Under Management, Administration and Supervision (FUMAS) were $106.3bn as at 30 June 2011, an increase of $7.2bn, from $99.1bn at 30 June 2010. This movement is primarily a result of increases in the market value of the assets underpinning FUMAS and positive flows to the group's actively marketed products.