Fiducian Group Ltd · ASX:FID
Fiducian — FY2023 Earnings Presentation
22 slides from Fiducian's earnings presentation, Aug 14, 2023
Slide 1: FY 2023 Results Investor Presentation
FY 2023 RESULTS INVESTOR PRESENTATION Indy Singh – Executive Chairman, Fiducian Group Rahul Guha – Executive Chairman, Fiducian Services Sydney, 14 August 2023 1
Slide 2: Agenda
Agenda FY2023 Full Year Update • Business Overview • Financials • Key Dates and Contacts 2
Slide 3: FY2023: Platform Administration
FY2023: Platform Administration • Net Inflows $364 million in FY2023 including $100 million from Auxilium and Badges • Almost 100% of Inflows from our aligned advisers are invested through Fiducian platform and in Fiducian multi- manager funds • Funds Under Administration (FUAdm): • $2,752 million a
Slide 4: Platform Administration – Net Flow and Revenue
Platform Administration – Net Flow and Revenue Net Funds Inflows - Six monthly (in $ mil) 200 180 160 140 120 100 80 60 40 20 0 Jun 18 Dec 18 Jun 19 Dec 19 Jun 20 Dec 20 Jun 21 Dec 21 Jun 22 Dec-22 Jun 23 • PBT Margins 66% of Gross Revenue including margins from cash held in the platform BUSINESS OV
Slide 5: Platform Administration – IFA Market
Platform Administration – IFA Market • New IFA product launched • 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 • Two new badges la
Slide 6: FY2023: Funds Management
FY2023: Funds Management • Funds Under Management (FUM): • $3,795 million as at June 2022 ($4,130 million average) • $4,463 million as at June 2023 ($4,105 million average) • $4,592 million as at July 2023, an increase of 12% over FY 2023 average • Potentially contributing to additional annualised r
Slide 7: Funds Management
Funds Management • Consistently superior results over long term against the world’s best fund managers in the Australian market • Over 20 years, the four Fiducian diversified funds ranked in the top decile to top quartile in 43 out of 64 readings against up to 168 fund managers on Morningstar survey
Slide 8: Funds Management
Funds Management • Fiducian fund fees are market competitive to other single manager funds fees • Highly defensible products for Advisers (RG175.346) • Added benefits for clients are access to multiple managers whose fees are paid by Fiducian through the relevant Fiducian Funds • As volumes increase
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: FY2023: Financial Planning
FY2023: Financial Planning • Enabler of steady flows to Funds and Platform • 3 new offices: 3 new offices opened in NSW (Illawarra, Ultimo and Sutherland) – offices in all States now • 80 Financial Advisers numbers and 45 offices • Inflow targets raised up to $6 million for each Financial Adviser •
Slide 11: Financial Planning
Financial Planning • Funds Under Advice (FUA): • $4,389 million as at June 2022 • $4,613 million as at June 2023 • $1,878 million in external platforms – work underway to transition clients to proven & successful compliant Fiducian process where in their best interest • Estimated $0.7 billion non-fe
Slide 12: Staffing
Staffing • June 23 staff number remained static at 178 (compared to June 22) inclusive of the following recruitments • Additional 40 staff from PCCU to support our new offices in South Australia and Darwin • Group HR Manager • Additional Practice Development Managers • Additional IT Support • Staff
Slide 13: Financials
Financials 13
Slide 14: FY 2023 Financial Highlights
FY 2023 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 June 2012, FID has outperformed All Ords by 735% (including dividend) • Dividend pay-out policy revised to 60-80% of Underlying Net Profit After Tax • H2 2023 dividend is 18.0 cents per share • FY 2023 full year dividends 30.30 cents per share
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 $312.37 in FY2023 • Double digit EPS growth (based on UNPAT) in 17 out of 23 years since listing FINANCIALS 17
Slide 18: Funds Under Management, Administration and Advice (FUMAA) Growth
Funds Under Management, Administration and Advice (FUMAA) Growth Consistent FUMAA growth from organic and inorganic inflows Increase in FUA as % of FUMAA reflects recent acquisition Marginal decline in average funds due to market volatility resulting in lower revenue Explanatory Notes: • FUA i
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 corresponding increase in cost base: • This is not a projection Funds under Management, Administration and Advice (FUMAA) & EBITDA or
Slide 20: Key Dates and Contacts
Key Dates and Contacts Retail Investor Presentation (Online) • Time / Date: 12:30 to 1.30 pm AEST, Wednesday 16 August 2023 • Join-in details (Zoom): https://zoom.us/j/98200349433?pwd=K1E5WUcvOTBkTUhyUlhxa2l6WVErQT09 • Dial-in: +61 2 8015 6011 Meeting ID: 982 0034 9433 Passcode: 103147 Key Dates • F
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