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Business Description: BT Investment Management Limited (BTT) is an investment manager responsible for the management of the BTT wholesale and retail funds, as well as managing mandates on behalf of Westpac. As at 30 September 2012, BTT manages over $46.6 billion for investors.
Strategy Analysis: BTT’s three-pronged growth strategy is on track and is focused on boosting exposure to the high-margin wholesale investor channel, leveraging Westpac group distribution competitive advantage, and continuing to expand the multi-boutique business model to attract new fund managers capable of diversifying and improving the fund product range. BTT’s strategic plan makes good sense and leverages existing strengths, but most domestic investment managers are attempting to achieve similar objectives and the operating environment is challenging. The successful acquisition of UK fund boutique manager JO Hambro will be a test of BTT’s strategy execution capability.
BT Investment Management reported NPAT up 27% to $21.4m for the year ended 30 September 2012. The group's cash NPAT for FY2012 was $41.5m (2011: $30.48m). The results for JOHCM have been included as part of the group from the acquisition date (effective 1 October 2011) to the end of the reporting period. Revenues from ordinary activities were $194.33m, up 51% from last year. Diluted EPS was 8.5 cents compared to 11.5 cents last year. Net operating cash flow was $43.1m compared to $36.71m last year. The final dividend declared was 7.0 cents, taking the full year dividend to 12.5 cents compared with 16.0 cents last year.
The Age 21/05/2013 |
Optus says its 4G mobile network will reach 70 per cent of the Australian population by mid-2014. The carrier revealed it has upgraded 4000 3G sites to 4G in five capital cities and in Coffs Harbour, the Gold Coast and Byron Bay. It also plans to make its 4G network suitable for customers with dual-band 4G mobile devices.
The Age 21/05/2013 |
Hong Kong private equity firm Quantum Pacific Capital says it is best placed to resolve a dispute over the ownership of a troubled $5 billion copper and gold project in Java and is negotiating to grab back as much as 80 per cent of the project on behalf of former owner Intrepid Mines.
The Age 21/05/2013 |
Shareholders in Transfield Services were bracing themselves on Monday for an earnings downgrade following downgrades by other mine services operators such as UGL, WorleyParsons and the smaller Coffey International last week.
The Age 21/05/2013 |
The whole retail recovery story has wandered perilously off script over the past quarter. The start of the year held the promise of green shoots at the discretionary spending end. But as we near the close of the financial year, the fragile recovery appears to have been nipped in the bud.
The Age 21/05/2013 |
New Leighton Holdings chairman Bob Humphris has moved to dispel fears that its directors remain at war with its German parent Hochtief, insisting the relationship was "collegiate" despite the abrupt resignation of three fellow directors two months ago.
The Age 21/05/2013 |
Australian shares flirted with five-year highs on Monday, returning to levels not seen since the onset of the global financial crisis, as investors were spurred on by signs of strength in the US economy.
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