Mainstream surpasses $210 billion in Funds under Administration
Mainstream Group Holdings Limited (ASX: MAI) has announced Funds under Administration (FuA) of $210.9 billion as at 30 September 2020, representing a 15% increase on the prior 12 months.
The net number of clients increased by 8 and net funds increased by 71 compared to the prior quarter, with continued wins in the US private equity and Australian business despite COVID-19.
Key highlights include:
- Funds under administration (FuA) surpasses $200 billion with net increase of $14.3 billion
- US private equity FuA up 85% during quarter, to $20.0 billion
- Funds under custody up 23% during quarter, to $12.1 billion
- 71 net additional/new funds live during quarter
Mainstream Chief Executive Officer Martin Smith commented, “Mainstream has continued its momentum from the June quarter with strong inflows as our clients adapt to the current environment. We are confident our new business pipeline will continue to grow, especially in our core markets, driven by new fund launches and further industry consolidation.”
Check out the ASX Announcement to find out more.