CIW - Clime Investment Management

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I am not familiar with diversified financials, but hopefully someone who is interested could shed some light on CIW.

CIW paid an interim fully franked dividend on March 15th of 1.5cps

March quarter update.

"CLIME CONTINUES TO GROW FUNDS UNDER MANAGEMENT (FUM)"
The Board of CIW is pleased to advise that its funds management business continued to grow strongly over the March quarter. At the date of this report FUM exceeds $435 million and this represents a 20% increase on the close of the December Quarter, and 50% increase on the June 2012 Quarter.

The approximate break up of FUM is as follows:
● Discrete managed portfolios and charities $300 million;
● Clime Capital Limited (CAM) $90 million; and
● Clime Australian Value Fund (CAVF) $46 million.

In the quarter all parts of the funds management businesses saw inflows and benefited from the general rise in equity markets.

Portfolio Performance
The CAVF continued to produce exceptional returns for its investors over one, three and five years. The fund has recently been recognised as the best performing Australian equity fund over 5 years. The performance of all equity funds managed by Clime is consistent with the returns of the CAVF.
1 year 15.34%
3 years 38.89%
5years 83.84%

MyClime- Eureka Report joint venture
The joint venture announced in early March has commenced trading with the first month’s revenue exceeding expectations. Membership numbers continue to build steadily and have now reached the highest level recorded by our business.

Balance Sheet
The shareholders equity or net assets of CIW increased in size during the March quarter with excellent trading results enhanced by balance sheet returns. The company supported the recent rights issue of CAM and maintains its position as the largest shareholder. The company paid an interim dividend of approximately $750,000 in March.
As a consequence of the above, net cash has declined over the quarter but it remains well above $5 million. Quarterly dividend income from CAM, CAVF and Jasco Holdings was received. The company’s investments in Clime managed products increased in value over the quarter and this is reflected in reported profits.

Outlook
The Board expects that the June quarter may be quite volatile for equity markets and so it is difficult to predict balance sheet movements that will be reflected in the company's yearly profit result.
However, the company retains a high level of enquiry for its funds management services and is confident that the joint venture with Eureka Report will generate a lift in membership of our valuation services. Further, year to date profit is substantially above that of the previous corresponding period and therefore the Board is confident that the company will report a significant increase in profit for the 2012/13 financial year.

 

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CLIME INVESTMENT MANAGEMENT LIMITED (ASX:CIW) HEADS OF AGREEMENT WITH RALTON AM PTY LTD (RALTON)

The Board of Clime Investment Management Limited (Clime or the Company) is pleased to announce that, following its recent announcement and updates at its AGM that Clime and Ralton have entered into a Heads of Agreement to bring the SMA/MDA operations of both businesses together.
The total SMA business will be led by Will Riggall, current CIO of Ralton. The combined assets under management will approximate $330 million and therefore create an industry leader in the provision of Managed Accounts.
Prior to this deal Clime manages approximately $270 million in SMA/MDAs for various related and non related parties. Ralton manages approximately $60 million of mandates. Pursuant to the Heads of Agreement:
1. Clime will hold an equity position in Ralton of between 50% and 75% subject to agreed valuations of the businesses and/or contracts that are vendored by Clime into Ralton;
2. The expanded Ralton business will therefore include operated SMA/MDA funds and management contracts that are assigned or contracted to Ralton by Clime or other managers; and
3. The finalisation of the transaction is subject to due diligence, agreed legal documentation, agreed valuations and respective Board approvals
The transaction is anticipated to be completed prior to 31 December 2021 and Clime will advise the market of the actual terms when the transaction is finalised. This proposed new venture will provide a platform for significant growth, underpinned by the long history of Managed Account investing in both companies.
This announcement is for approved by the Board of Directors of Clime Investment Management Limited for release to the ASX.

DYOR

i hold CIW

 

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“CLIME INVESTMENT MANAGEMENT LIMITED COMPLETES ACQUISITION OF MTIS WEALTH
MANAGEMENT & ENTERS INTO A MANAGED ACCOUNTS STRATEGIC ALLIANCE WITH MARCUS
TODAY”
• The acquisition of MTIS Wealth Management, announced on 19 May 2022, has completed.
• MTIS has ~$380 million FUM and total gross annual revenue of ~$3 million and will form part
of the Clime Melbourne office
• CIW has entered into a strategic alliance with Marcus Today, to manage their $70mil SMA
portfolios and provide licensing services. Founded by respected stockbroker Marcus Padley,
Marcus Today is an online subscriber stock market newsletter service providing education
and general financial market knowledge to Australian investors.
• This acquisition and strategic alliance follow Clime’s recent acquisition of Ralton Asset
Management and the strategic alliance with Torica Funds Management
The Board of Clime Investment Management Limited (CIW) is pleased to advise that it has
successfully completed the acquisition of MTIS Wealth Management Pty Limited and Investment
Strategists Accounting Services Pty Limited (ISAS) (“MTIS”). The MTIS and CIW teams have colocated to create a full-service wealth office in Melbourne. MTIS will leverage the CIW operating
infrastructure, risk management and professional wealth services, providing clients with an
expanded suite of education and investment solutions.
Following an introduction facilitated by the MTIS Principals, CIW is also pleased to announce a
strategic alliance with Marcus Today (MT) to manage MT’s $70mil managed account portfolios and
provide licensing services. The portfolios will be managed by the CIW investment team under the
Ralton Asset Management SMA service, led by our CIO, Will Riggall. The strategic alliance will
identify and offer mutually beneficial services to the CIW and MT investor communities, including
multi-modal education forums, access to stock market and macro insights and professionally
managed investment solutions.
The MTIS transaction & strategic alliance with Marcus Today follows CIW’s recent announcements of
the acquisition of Ralton Asset Management and the strategic alliance with Torica Funds
Management. As previously reported, the platform for this growth and expansion was set by the
merger of CIW with Madison Financial Group in June 2020.
Annick Donat
CEO Clime Group

DYOR

i hold CIW

 

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• Madison Financial Group divestment completed; and
• Appointment of New Non-Executive Director


Sale of Madison Financial Group On 27 May 2024, Clime Investment Management Limited (ASX: CIW, “Clime” or the “Company”) announced the proposed divestment of Madison Financial Group Pty Ltd and Wealth Portal Pty Ltd, and a strategic partnership with Infocus Wealth Management Limited.

The Company is pleased to advise that the parties have entered into full form binding sale deed to implement the sale and strategic partnership on the terms detailed in that announcement.

The parties expect to complete the sale on 28 June 2024.
The strong cultural alignment enables a smooth transition for advisers with minimal disruption to their business, and strategic partnership opportunities for the parties.
The divestment also positions the Company for profit improvement in FY25, with normalised profits of approximately $500k and streamlined operations with a focus on funds management and private wealth.

Appointment of Non-Executive Director

The Company also announces today that it has appointed a new Non-Executive Director to its Board, Mr.Michael Baragwanath, in recognition of the Company’s growth focus.
Michael will join the Board on 1 July 2024.Michael is a senior executive and consultant with over 18 years of financial services experience, including roles as a division head, distribution manager, and specialist product manager.
Michael was formerly the Head of Wealth and remains a Partner, Corporate Advice at TIP Group.
Michael manages several large-scale projects,including the 254 North Adelaide Skyscraper, a $400 million project. In addition, Michael serves as a responsible manager for several financial services licensees.
His extensive experience includes assisting numerous startups,securing banking licenses, working with Dubai-based technology providers, and creating migration-compliant investment arrangements (such as SIV visas) with partners in Hong Kong and mainland China.Michael holds an MBA with a specialisation in Marketing, along with financial services, debt and real estate qualifications.

Clime Chairman John Abernethy said that “Mr. Baragwanath’s proven strategic advisory skills, and experience in financial product distribution will be an important contributor to the Clime Board as we execute our growth initiatives”.

Clime Investment Management Limited

This announcement is approved by the Board of Directors of Clime Investment Management Limited for release to the ASX.

John Abernethy Chairman

i hold CIW

 

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Clime Investment Management Limited (ASX: CIW)Business Update
• Improved revenue guidance
• Further restructuring initiatives expected to reduce operating costs by $1m p.a.
• Retirement of Joint Company Secretary
Improved revenue guidance
Further to the June quarter update of 26 July CIW is pleased to announce additional improvements in the FY25 outlook.
As previously announced, CIW secured an investment management mandate for Clearwater.
We are pleased to advise that final contracts have been signed for a minimum 3-years on terms that are expected to deliver revenue in excess of $0.5m p.a.
This is in addition to revenue growth noted in the June quarter update, flowing from inflows into our managed funds.
Additional cost savings
We are pleased to advise that following the sale of Madison Financial Group (MFG) to Infocus, CIW has identified additional cost savings beyond the direct cost savings from demerging with MFG.
These savings are expected to reduce operating costs by approximately $1 million per annum.
As we continue to refocus on funds management, the company expects further cost savings to be identified,a portion of which we intend to reinvest into distribution and client service support.
The net result of these total initiatives is that CIW now expects FY25 operating costs to be substantially lower than in FY24.
The Board will give further guidance on this with our FY24 audited result which will be released on or about 28 August.
Retirement of Company Secretary
CIW also announces that Mr Simon Dutton will cease as Joint Company Secretary effective 16 August 2024.
The position of Group Head of Risk, Mr Dutton’s primary position, is no longer required owing to a reduction in business complexity post divestment of MFG.
Clime Investment Management Limited

Mr Dutton is a well-respected financial services professional who has provided exemplary service to the company.
We wish him all the best with future endeavours.
With the retirement of Mr Dutton from the role of Joint Company Secretary, Mr Tushar Kale is now sole Company Secretary of CIW.
Appointment to funds management team
CIW is pleased to announce the appointment of Mr. Steve Lambeth as Portfolio Manager reporting to the CIO Mr. Will Rigall.
Steve brings a wealth of experience to our team, having previously worked for awell-respected equity manager.Target release dateAs noted above CIW intends to announce its FY24 audited results on or about 28 August.This announcement is approved by the Board of Directors of Clime Investment Management Limited for release to the ASX.
For enquiries, please contact Michael Baragwanath on 1300 788 568 or via email atinfo@clime.com.au

Michael BaragwanathActing Managing Director

i hold CIW