Associate Global Partners (ASX: $APL) Quarterly Report Overview

Associate Global Partners Limited (ASX: $APL) has reported a growth in Funds Under Management (FUM) by $132 million to $1.279 billion as at 31 March 2024. The net operating cash outflow reduced to $0.267 million from $0.454 million in the December 2024 quarter. The company's total cash balance stood at $3.996 million with a debt of $1.252 million as at 31 March 2024.

Executive Commentary on Quarterly Performance

The Company's FUM experienced a significant increase primarily due to improved global market conditions impacting the WCM Large and Small Cap strategies. However, the quarter also saw a total net outflow of $15.5m due to two adviser group redemptions. The WCM Large Cap strategy delivered a return of 19.55% while the WCM Small Cap strategy delivered a return of 6.59%, both relative to their benchmarks. The Company remains focused on investing in the distribution of its key investment manager partners' products to support further growth in total FUM while managing operating cash flows.

Quarterly Report Summary and Outlook

Associate Global Partners (ASX: $APL) reported a positive growth in FUM, reaching $1.279 billion as at 31 March 2024, attributed to improved global market conditions. Despite a total net outflow of $15.5m, the WCM Large and Small Cap strategies delivered strong returns relative to their benchmarks. The Company's key focus remains on investing in the distribution of its key investment manager partners' products to support further growth in total FUM while closely managing operating cash flows in 2024 and beyond.