Mark Sowerby
Blue Sky Alternative Investments Limited has announced its results for the half year ending 31 December 2015, reporting an underlying Net Profit After Tax (NPAT) of $4.4 million (up 69 per cent from $2.6 million for the first half of FY15) and a 44 per cent increase in revenue to $23.8 million (up from $16.5 million).
The directors anticipate the company’s underlying NPAT for the year ending 30 June 2016 will be between $14.0 and $16.0 million.
Fee earning Assets Under Management (AUM) to the end of December 2015 grew to $1.70 billion, up from $1.35 billion at June 2015.
The directors brought forward AUM guidance to $2.0 billion by the end of June 2016. Blue Sky also updated the performance of the investment funds it manages to the end of December 2015, with an increase from 15.4 to 16.9 per cent per annum compounding (net of fees) since inception in July 2006.
Managing Director Mark Sowerby said the growth reflected almost 10 years in the alternative assets space, during which time alternatives had started to move into the mainstream.
“Industry forecasts suggest alternative assets will be the largest investment class in Australia by 2021,” Mr Sowerby said.
“Our strong and consistent decade-long track record of growth and investment performance across all our funds places us in a very competitive position.
“Blue Sky’s funds give investors access to investment opportunities in private markets. This is where the new ideas and growth companies of the future will be found.
“Our focus in recent years on the essentials – food, water, education, housing, student accommodation, agriculture and infrastructure – has been the key to this performance.”
Blue Sky is Australia’s only listed fund manager focused on a range of diversified alternative investments, including private equity and venture capital, real assets (primarily water and agriculture), private real estate (primarily residential and student accommodation) and hedge funds.