Blue Sky reports 68 per cent profit growth and $1.35 billion in Assets Under Management
Mark Sowerby
Blue Sky Alternative Investments Limited (ASX: BLA) yesterday announced its results for the full year ending 30 June 2015, reporting an underlying Net Profit After Tax of $10.4 million (up 68 per cent from $6.2 million in 2014) and an 82 per cent increase in revenue to $43.6 million.
The company will pay a fully franked dividend of 11 cents per share to shareholders (record date: 11 September 2015; payment date: 2 October 2015).
In the last 12 months, Blue Sky has reached $1.35 billion in fee-earning assets under management (AUM) up from $700 million last financial year and the company is on track to achieve $2 billion in AUM by the end of calendar year 2016, a year earlier than previously targeted.
Since inception in July 2006, Blue Sky has generated an internal rate of return (IRR) across its funds of 15.4 per cent per annum net of fees to the end of June 2015.
Founder and managing director Mark Sowerby said the results and fund performance reflected increased demand from private investors, strong deal flow activity and further engagement with family offices and institutional investors.
“We have a nearly decade-long track record of delivering strong investor returns in our underlying funds, and as allocations to alternatives continue to increase we see further growth in demand,” Mr Sowerby said.
“Our funds give investors access to opportunities in private markets. This is where the new ideas and growth companies of the future will be found.
“We have worked hard to build a strong, trusted brand in a country where alternative investments have historically been misunderstood, and it is paying off.
“Every single one of our divisions has attracted institutional capital now, which is a great demonstration of trust, and a natural evolution as our business matures.”
Blue Sky is Australia’s only listed fund manager focussed on a range of diversified alternative investments, including private equity and venture capital, real assets, private real estate and hedge funds.
“Alternative assets are the fastest growing asset class in Australia. Investors are looking beyond traditional investment strategies,” Mr Sowerby said.
Last year, the company launched the Blue Sky Alternatives Access Fund (ASX: BAF) a listed investment company deployed across Blue Sky funds, providing investors with a listed, diversified exposure to the company’s investment opportunities.
“Blue Sky is now an alternative solutions provider to all investor segments,” Mr Sowerby concluded.
