Corporate: Australian Ethical has tripled this financial year after its latest update
News
share
Australian Ethical Investment (ASX:AEF) shareholders have seen spectacular growth this financial year, netting a return of over 200 per cent.
The company’s funds under management (FUM) in the December quarter reached $3.87 billion. This is 6 per cent higher than the September quarter, 11 per cent higher than the June quarter and 31 per cent higher than 2018’s December quarter.
The ethical fund manager began in 1986 but has seen solid growth in recent years. It now boasts 45,000 members.
Acting CEO Steve Gibbs previously told Stockhead he believed this was due to the rise of ethical investing.
“The power of money can be harnessed to deliver both competitive returns and positive change for society and the environment at a time when it’s never been so important to invest for a better tomorrow,” he said.
Shares climbed 2.8 per cent this morning but have tripled since early July when it sat at $1.69. Their rise in the first three trading weeks of January 2020 alone is nearly 40 per cent.
READ MORE:
Ethical Investing recap: The six things we now know about ethical investing
Corporate: Australian Ethical Investment books 38pc earnings upgrade; shares already double in FY20
In other ASX corporate news today:
Creso Pharma (ASX:CPH) climbed over 20 per cent this morning on a strong quarterly. It made nearly $2m in revenue thanks to strong product sales. Creso told shareholders it has nine more products pending commercialisation including its cannaQIX range into South Africa.
This week, hotel booking tech company SiteMinder became Australia’s newest $1 billion tech unicorn after its latest capital raise. But Bailador Technology Investments (ASX:BTI) opted to sell $10m. Bailador was one of SiteMinder’s earliest investors and it now wants to make new investments, although its remaining holdings account for 52 per cent of its tangible assets.
