OneVue continues delivering strong growth across the group
Managed fund administration Record number of items processed in the quarter of 85,302 were up 15.5% on the previous quarter and increased by 88% on pcp, adding 96 funds in the quarter taking the total number of funds administered to a record 727 funds.
FUA of $471.7b at the end of the quarter was down on the previous quarter due to the exit of one legacy institutional fund from an installed software custodial contract. The exit of this fund (FUA of $58b) has no impact on revenues under the existing licensing model.
In the quarter we transitioned the first of the NAB clients, UBS Asset Management and further transitions are progressing.
The previously announced sale of OneVue’s RE business to EQT Trustees is progressing to plan and is scheduled to complete at the end of March 2018.
Superannuation member administration FUA at 31 December 2017 reached $2.1b, an increase of 4% ($74m) on the previous quarter, with growth on pcp of 23% ($402m). Member numbers were also up on the previous quarter and are up on pcp with 22 funds and 90,529 members now being administered.
Platform Services retail FUA reaches $4.7b as at 31 December 2017, up 10% ($439m) on the previous quarter and 24% ($908m) on pcp.
Gross quarterly inflows from new and existing clients of $475m were up $53% ($165m) on pcp, further building on the strong momentum and taking gross inflows to $1.6b for the last 12 months. Net inflows for the quarter of $305m were in line with the record previous quarter and up $103m or 51% on pcp. Record net inflows for the last 12 months of $869m were up 156% on pcp. Superannuation Trustee Services Funds under trusteeship (FUT) at 31 December 2017 grew to $10.3b, up 7% ($654m) on the previous quarter, with growth in assets of existing and new clients. FUT has grown by a record $1.5b or 16% over pcp.
Funds under trusteeship (FUT) at 31 December 2017 grew to $10.3b, up 7% ($654m) on the previous quarter, with growth in assets of existing and new clients. FUT has grown by a record $1.5b or 16% over pcp.
For further information, contact:
+61 403 609 965
Chief Financial Officer and Company Secretary
+61 8823 2550
About OneVue Holdings Limited (ASX: OVH)
OneVue is an ASX listed fintech company that partners to disrupt across the superannuation value chain. The business operates through three core divisions: Fund Services, Platform Services and Trustee Services.
OneVue is number 1 in Fund Services managed fund administration and number 1 in Superannuation Trustee Services. Platform Services was recognised in Investment Trends’ December 2016 Platform Competitive Analysis and Benchmarking Report as ranking 3rd in Online Client Portal technology and received the Platform Excellence Award for “Most New Developments”. In 2017, OneVue was awarded ‘Best Innovator’ in the Self Managed Super Fund Provider Awards.
OneVue Holdings Limited | ABN 15 108 221 870 | Level 5, 10 Spring Street, Sydney NSW 2000
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