IOOF Holdings

IOOF Holdings managing director Chris Kelaher had a few rays of sunshine to throw in amongst the gloom in today’s AGM address. Weak market conditions copped the blame for the 14% fall in underlying net profit, but Kelaher was keen to point out that funds under management, advice, administration and supervision (FUMAS) edged up 1% to $107.3bn. Since the financial year end, this has risen a further 3.2% to $110.7bn. Kelaher also noted positive early signs from the company’s campaign to increase awareness of the IOOF brand outside Victoria. DKN Financial, acquired in 2011, has been ‘successfully integrated into...

IOOF Holdings managing director Chris Kelaher had a few rays of sunshine to throw in amongst the gloom in today’s AGM address.

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