OneVue has delivered its first positive period of EBITDA for the half year ending 31 December 2014. The result was delivered in line with OneVue’s prospectus forecast.
In the same period, Funds Under Administration (FUA) in Platform Services rose 45% from $1.94b to $2.82b due to net funds flow and the Select acquisition. Funds Under Management (FUM) for the wholly owned Select Investment Partners reached $1b.
“Our results are on track with expectations and come alongside other important operational milestones for the period. This includes the enhancement of our overall superannuation and investment management offering delivered through the acquisition of Select Investment Partners,” said OneVue Group CEO Connie Mckeage.
Another key event for the period was the launch of OneVue’s industry-first Digital Direct service. It offers self-directed investors a flexible end-to-end self-managed superannuation fund (SMSF) service, retail super and the ability to manage non-super assets. OneVue is a wholesaler of this service and offers it to businesses that in turn provide it to their own customer base.
“The launch of our new Digital Direct service with News Corporation’s Eureka Report was an operating highlight for the period. The Digital Direct service represents our intention to lead the growing market for user-friendly and comprehensive digital investor services – both for advised and unadvised investors,” Ms Mckeage added.
“At the same time as we’re pushing the envelope with market-facing digital developments, we’re also leveraging this digital development to enhance the service offering to all Platform Services clients. Winning the SMSF Online Administration Platform/Service offering of the year by the AFR’s Smart Investor for the second year running is also very pleasing.”
“Our Fund Services clients have grown with us, taking up more services and requesting new features. The development of mFund and greater levels of automation has added new clients and driven a two fold increase in processing efficiency. Outsourced registry is now very well positioned for growth.”
Following its IPO in July last year, OneVue intends to continue to build scale and innovate by introducing market-leading Digital Direct services as well as superior back-office service driven by an award winning team and continually enhanced technologies.