Fiducian Group Ltd · ASX:FID
Fiducian — H1 FY2023 Earnings Presentation
22 slides from Fiducian's earnings presentation, Feb 13, 2023
Slide 1: FY 2023 Half-Year Results Investor Presentation
FY 2023 HALF-YEAR RESULTS INVESTOR PRESENTATION Indy Singh – Executive Chairman, Fiducian Group Rahul Guha – Executive Chairman, Fiducian Services Sydney, 13 February 2023 1
Slide 2: Agenda
Agenda FY2023 Half Year Update • Business Overview • Financials • Key Dates and Contacts 2
Slide 3: FY2023 Half-Year: Platform Administration
FY2023 Half-Year: Platform Administration • Net Inflows $166 million in first half • Almost 100% of new Inflows are invested through Fiducian platform and in Fiducian multi-manager funds • Funds Under Administration (FUAdm): • $2,949 million as at December 2021 • $2,969 million as at December 2022 •
Slide 4: Platform Administration: Net Inflows, Revenue and PBT
Platform Administration Net Funds Inflows - Six monthly (in $ mil) Platform Revenue & PBT and Average FUAdm 9.3 9.2 9.5 8.7 3.2 180 8.6 8.5 3.0 7.8 2.9 160 7.5 7.3 2.7 2.9 2.7 7.2 7.3 Revenue and PBT in $mil 7.5 7.0 140 6.5 2.3 2.4 2.2 2.1 FUAdm in $bil 120 5.5 1.9 2.0 1.8 1.7 100 4.5 4.7 4.7 1.2 80
Slide 5: FY2023 Half-Year: Funds Management
FY2023 Half-Year: Funds Management • Launched Deep Green SMA to capture ESG market • Funds Under Management (FUM): • $4,066 million as at December 2021 • $4,083 million as at December 2022 • $4,225 million as at January 2023, an increase of 3% over December 2022 • Contributing to additional annualis
Slide 6: Funds Management
Funds Management • Consistently superior results against the world’s best fund managers in the Australian market over long term Fiducian Funds 3-years return (ranking) p.a. 5-years return (ranking) p.a. 7-years return (ranking) p.a. 10-years return (ranking) p.a. Capital Stable 0.6% 33/102 2.5% 19/9
Slide 7: Funds Management: Revenue, PBT and Average FUM
Funds Management • Fiducian fund fees are similar to Funds Revenue & PBT and Average FUM other single manager funds fees 14.2 • Added benefits for clients are 14.0 13.4 5.0 13.2 access to multiple managers 4.5 12.1 whose fees are paid by Fiducian 12.0 4.2 4.0 4.1 through the relevant Fiducian 10.7 3
Slide 8: FinTech Capabilities
FinTech Capabilities • Proven and time tested Fintech capabilities underpin Fiducian’s successful business model • Market leading in-house systems: • ‘Fastrack’ Platform Administration System • ‘FORCe’ Adviser driven Financial Planning Software • ‘Fiducian Online’ Holistic Client reporting • Interna
Slide 9: FY2023 Half-Year: Financial Planning
FY2023 Half-Year: Financial Planning • Enabler of steady flows to Funds and Platform • 4 new offices opened in South Australia (Adelaide, Modbury, Glenelg and Blackwood) and 1 in Darwin – offices in all States now • Financial Advisers numbers increased from 66 to 84 • In addition, 5 new franchised F
Slide 10: Financial Planning
Financial Planning • Funds Under Advice (FUA): Fiducian Advisers • $3,892 million as at December 2021 50 42 42 • $4,798 million as at December 2022 (includes PCCU 40 acquisition $791 million) 30 • $4,955 million as at January 2023, an increase of 3% over 20 December 2022 10 0 • Contributing to addit
Slide 11: PCCU Financial Planning and other Acquisitions
PCCU Financial Planning and other Acquisitions Acquisition of Financial Planning Business of People’s Choice Credit Union (PCCU) • 41 staff including 16 planners joined Fiducian on 1 February 2022 • Introduced the Fiducian way and process, restructured operations and stabilised our acquisition • Tra
Slide 12: Staffing
Staffing • Staff number increased to 181 to support business expansion • Transition staff from PCCU to support our new offices in South Australia and Darwin • Group HR Manager • Additional Practice Development Managers • IT Support • Staff retention is key – increase of salary in July 2022 to match
Slide 13: Financials
Financials 13
Slide 14: FY 2023 Half-Year Financial Highlights
FY 2023 Half-Year Financial Highlights FINANCIALS 14
Slide 15: Segment Reporting
Segment Reporting FINANCIALS 15
Slide 16: FID outperformance against All Ords Accum Index
FID outperformance against All Ords Accum Index • Since Jun 12, FID has outperformed All Ords by 832% (including dividend) • Dividend pay-out policy is 60-70% of Net Profit After Tax • H1 2023 dividend is 12.30 cents FINANCIALS 16
Slide 17: Dividends – $1,000 invested on July 2012
Dividends – $1,000 invested on 1 July 2012 • The graph shows that $1,000 invested in FID on 1 July 2012 delivered a fully franked dividend of $126.80 in H1 • Double digit EPS growth (based on UNPAT) in 17 out of 23 years since listing FINANCIALS 17
Slide 18: FUMAA Growth
Funds Under Management, Administration and Advice (FUMAA) Growth ✓ Consistent FUMAA growth from strong organic and inorganic inflows ✓ Increase in FUA as proportion of FUMAA reflects recent acquisition Explanatory Notes: • FUA includes assets held in Fiducian and External platforms • FUM includes cr
Slide 19: Projecting the Potential: Conceptual Representation
Projecting the Potential: Conceptual Representation The following is a conceptual extrapolation* of how increasing scale lifts EBITDA at an accelerating rate above a relatively fixed cost base: • This is not a projection Funds under Management, Administration and Advice (FUMAA) & EBITDA or a forward
Slide 20: Key Dates and Contacts
Key Dates and Contacts Retail Investor Presentation (Online) • Time / Date: 12:30 to 1.30 pm AEST, Tuesday 14 February 2023 • Join-in details (Zoom): https://zoom.us/j/94747551830?pwd=Z1ZZRlVCU2FRV25PYnZJKzVNaDU4QT09 • Dial-in: +61 2 8015 6011 Meeting ID: 947 4755 1830 Passcode: 502234 Key Dates • H
Slide 21: Disclaimer
Disclaimer Information in this document and given in the presentation is of a general nature. It is not intended to be, nor does it, constitute financial, legal or tax advice. The information is given in good faith and, although care has been exercised in compiling it, Fiducian Group Limited and the
Slide 22: Disclaimer
Disclaimer Source: Morningstar Direct. © 2023 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any gene