MA Financial Group Limited (MAF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would now like to hand the conference over to Mr. Julian Biggins, Joint CEO. Please go ahead. Good morning and welcome to the FY24 result for MA Financial Group. My name is Julian Biggins, and I'm Joint CEO of the company, along with Chris Wyke, who is sitting next to me. Also in the room is company's Chief Financial Officer, Giles Boddy, and Michael Leonard, Head of Investor Relations. Let's get straight into the result and some of the key highlights on slide six. We're really pleased with the progress of the company over the last year. In FY24, we delivered gross flows into our investment strategies of $2.7 billion. This includes the $500 million subscription into the real estate credit vehicle, which was allocated in September of 2024, and $2.2 billion of gross inflows for the year. This is up 27% on the prior year. Flows were again dominated by strong growth in the domestic channel, which has been an ongoing theme for us since diversifying into this channel in 2018. MA Money's growth continues to accelerate. Its loan book increased 155% over the year to $2.1 billion and the business turned a small profit in the second half. The continued growth trajectory of MA Money is very pleasing given the investment over the years and provides another validation of how we invest to create long-term shareholder value. Finsure expanded its market share as its technology offering, coupled with a strong growth culture, continued to outperform its competitors. We believe that the divide between Finsure's offering and its competitors continues to widen, and that bodes very well for Finsure's future. Over the last 12 months, we've further diversified our asset management distribution channels meaningfully. Diversifying and growing distribution channels is a core focus as we attem...