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    Default CIW - Clime Investment FPO

    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.

    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.

    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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