Income Asset Management (ASX:IAM) cashed up to drive business in FY24

• Income Asset Management (IAM) posts its third consecutive quarter of positive net operating cash flow in Q4 FY23 of $253,000
• With a 55 per cent YoY increase, total assets under administration (AuA) now totals $3.1 billion, with a 10 per cent QoQ rise in client numbers
• IAM’s financial performance surges 53 per cent on Q3 and is up 225 per cent compared to Q4 FY22
• The group’s achievements in FY23 strengthen its balance sheet heading into FY24
• IAM shares are up 6.9 per cent, trading at 15.5 cents at 3:47 pm AEST

Income Asset Management (IAM) has posted its third consecutive quarter of positive net operating cash flow in Q4 FY23.

The company recorded a Q4 FY23 positive operating cash flow of $253,000.

With a 55 per cent year-on-year increase, total assets under administration (AuA) have reached $3.1 billion. IAM also posted a 10 per cent quarter-on-quarter rise in client numbers, reaching a total of 1304.

The group’s achievements have significantly strengthened its balance sheet, with $9.3 million in cash, an increase of $3.2 million, and an impressive 84 per cent rise in total operating revenue compared to the same period last year.

IAM’s financial performance surged 53 per cent from the previous quarter and is up an outstanding 225 per cent compared to Q4 FY22.

During the same quarter, IAM recorded total cash receipts of $3.1 million from customers, a substantial 70 per cent increase compared to Q4 FY22, and the positive momentum continued with IAM executing a significant Debt Capital Market (DCM) pipeline in July.

Meanwhile, IAM invested $350,000 to acquire the Global Credit Opportunities Fund (GCOF), further strengthening its investment portfolio.

IAM cash markets showed substantial growth, with total deposit products reaching $1.7 billion at the end of Q4 FY23, marking a 10 per cent increase on the previous quarter.

The group’s expansion plans continue with the upcoming launch of Exchange Traded Bonds (ETBs), providing retail investors with on-market exposure to high-quality bonds with accessible parcels.

IAM shares were up 6.9 per cent, trading at 15.5 cents at 3:47 pm AEST.