Fiducian Group Ltd · ASX:FID
Fiducian — H1 FY2024 Earnings Presentation
22 slides from Fiducian's earnings presentation, Feb 12, 2024
Slide 1: FY 2024 H1 Results Investor Presentation
FY 2024 H1 RESULTS INVESTOR PRESENTATION Indy Singh – Executive Chairman, Fiducian Group Rahul Guha – Executive Chairman, Fiducian Services Sydney, 12 February 2024 1
Slide 2: Agenda
Agenda FY2024 Half Year Update • Business Overview • Financials • Key Dates and Contacts 2
Slide 3: FY2024 Half-Year: Platform Administration
FY2024 Half-Year: Platform Administration Core Fiducian platform • Net inflows $121 million in first half from aligned financial advisers • Almost 100% of new Inflows are invested through Fiducian platform and in Fiducian multi-manager funds • Funds Under Administration (FUAdm): • $2,619 million as
Slide 4: Platform Administration Revenue, PBT and Average FUAdm
Platform Administration Platform Revenue & PBT and Average FUAdm Core platform Net Inflows - Six monthly (in $ mil) 10.4 200 9.9 9.8 3.5 10.0 9.6 9.0 9.3 180 3.2 3.0 Revenue and PBT in $mil 8.2 8.4 3.0 3.2 7.9 7.8 2.9 160 8.0 2.7 2.9 2.5 FUAdm in $bil 140 2.3 2.4 120 6.0 2.1 2.0 2.0 100 6.7 1.5 4.0
Slide 5: Platform Administration – IFA Market (non-aligned)
Platform Administration – IFA Market (non-aligned) • Low-cost value proposition, Auxilium, directly competing to disrupt the existing disruptor platforms through in-house technology, extensive product menu, advanced reporting capabilities and high standard of service • Total of five badges gaining m
Slide 6: FY2024 Half-Year: Funds Management
FY2024 Half-Year: Funds Management • Funds Under Management (FUM): • $4,083 million as at December 2022 ($3,949 million 6 monthly average) • $4,819 million as at December 2023 ($4,561 million 6 monthly average) • $4,895 million as at January 2024, an increase of 24% over December 2022 6-monthly aver
Slide 7: Funds Management
Funds Management • Consistently superior results over long term against the world’s best fund managers in the Australian market over long term • Over 20 years, the four Fiducian diversified funds ranked in the top decile to top quartile in 41 out of 64 readings against up to 162 fund managers on Zen
Slide 8: Funds Management Revenue, PBT and Average FUM
Funds Management • Fiducian fund fees are similar to other Funds Revenue & PBT and Average FUM single manager funds fees 14.2 5.5 • Highly defensible products for 14.0 13.6 13.3 12.8 12.8 Advisers (RG175.346) 12.0 11.7 4.5 • Added benefits for clients are access 4.6 4.2 4.3 to multiple managers whos
Slide 9: 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 10: FY2024 Half-Year: Financial Planning
FY2024 Half-Year: Financial Planning • Enabler of steady flows to Funds and Platform • 80 Financial Advisers numbers and 45 offices • Inflow targets raised up to $6 million for each Financial Adviser • Revenue targets raised 10% to 20% per annum for Salaried Advisers BUSINESS OVERVIEW 10
Slide 11: Financial Planning
Financial Planning • Funds Under Advice (FUA): • $4,798 million as at December 2022 • $4,737 million as at December 2023 • $1,774 million in external platforms – work underway to transition to proven & successful compliant Fiducian process where in clients’ best interest • Estimated $0.7 billion non
Slide 12: Staffing
Staffing • December 2023 staff number 167 (compared to 177 in December 2022). Efficiencies through: • Enhancements to our financial planning software adding several efficiencies • Right sizing through natural attrition as we bedded down the loss in client base from our Adelaide acquisition • Staff l
Slide 13: Financials
Financials 13
Slide 14: FY 2024 Half-Year Financial Highlights
FY 2024 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 713% (including dividend) • Dividend pay-out policy is 60-80% of Underlying Net Profit After Tax • H1 2024 dividend is 18.20 cents FINANCIALS 16
Slide 17: Dividends – $1,000 invested on 1 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 $373.22 in last two half-year periods • Double digit EPS growth (based on UNPAT) in 18 out of 24 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 13 February 2024 • Join-in details (Zoom): https://zoom.us/j/94893110991?pwd=SUlJZ1d4eld5RGJGcGxsQXB1LzRHQT09 • Dial-in: +61 2 8015 6011 Meeting ID: 948 9311 0991 Passcode: 002452 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: Zenith funds survey. © FE fundinfo (Australia) Pty Limited ABN 18 601 868 311 (FE fundinfo), Authorised Representative of Zenith Investment Partners Pty Ltd ABN 27 103 132 672, AFSL 226872 under AFS Representative Number 1297668. Data provided by FE fundinfo does not constitute fi