- Mainstream Group (MAI) has reported a total of $272.2 billion in funds under administration, as of March 31, 2021
- Funds under administration increased by $47.4 billion in three months, representing a 21 per cent increase quarter on quarter
- Mainstream’s number of investors for the quarter increased by roughly 19,000 to 176,000
- The company attributed this result to onboarding a new key client, plus strong inflows across its existing Australian client base
- Mainstream Group is up 0.26 per cent and trading at $1.96 per share
Mainstream Group (MAI) has reported a total of $272.2 billion in funds under administration for the quarter ending March 31, 2021.
This is by far the highest amount of funds under administration (FUA) that the independent fund administration company has recorded.
Mainstream Group’s FUA in the previous quarter, ending December 31, 2020, was $224.8 billion. As such, the company’s FUA increased by $47.4 billion in just three months, representing a 21 per cent increase quarter on quarter.
Mainstream Group’s FUA exactly a year earlier on March 31, 2020 was $187.1 billion. This means that the company’s FUA increased by $85.1 billion in twelve months, representing a 45 per cent increase year on year.
Mainstream also saw increases across the board in other areas, including the number of funds administered, clients, and investors.
Quarter-on-quarter, the company’s number of administered funds has risen by 162 (13 per cent) to 1364. Year on year, its administered funds rose by 322 (31 per cent).
Quarter on quarter, Mainstream’s number of clients increased by five (one per cent) to 367. Year on year, the company’s client numbers rose by 19 (five per cent).
Lastly, Mainstream’s investor numbers for the quarter increased by roughly 19,000 to 176,000.
Mainstream Group has attributed this excellent quarterly result to the company onboarding a new key client, fellow ASX-lister Pendal Australia (PDL). The company also gave some of the credit to strong inflows from its existing Australian client base.
Mainstream Group’s CEO, Martin Smith, expressed delight with the company’s quarterly result, which has gone beyond the company’s expectations and strongest quarter to date.
“This result reflects our ongoing investment in enterprise solutions for larger fund managers,” he said.
“We are well positioned to attract more clients of this calibre and expect to see ongoing demand for our scale and expertise in functional outsourcing in areas such as unit registry (transfer agency), middle office, and custody,” he added.
Mainstream Group is up 0.26 per cent, trading at $1.96 per share at 3:38 pm AEST.