Integrated Asset Management Corp. Announces Results for the Second Quarter of Fiscal 2013
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/07/13 -- Integrated Asset Management Corp. ("IAM") (TSX: IAM) today announced unaudited financial results for the quarter ended March 31, 2013.
AUM were unchanged in the quarter and were approximately $1.9 billion as at March 31, 2013.
Management fees and other income were $3.3 million in the latest quarter, down $0.6 million from $3.9 million in the comparable quarter of fiscal 2012. This decline is the result of the end of a segregated fund managed by Real Estate Asset Management in February 2012.
Nominal performance fees were realized in the second quarter of fiscal 2013, whereas $1.0 million were realized in the prior year's quarter; most of which were realized when the segregated fund managed by Real Estate Asset Management ended.
EBITDA for the three months ended June 30, 2012 decreased to negative ($0.2) million from $0.3 million in the prior year's comparable quarter due to the higher net performance fees in the prior quarter.
Over the past year, the Corporation reduced expenses in Retail Alternative Investments and sold its global bonds operations which were incurring losses. Excluding expenses relating to performance fees, expenses declined $0.8 million from $4.7 million in the second quarter of fiscal 2012 to $3.9 million in the latest quarter.
Victor Koloshuk, Chairman and Chief Executive Officer, said "Management has taken steps to address continued operating losses in certain subsidiaries. We are also well advanced in the marketing of three institutional funds which should increase AUM significantly."
For detailed financial statements for the quarter, including Management's Discussion and Analysis, please refer to IAM's website at or SEDAR at after May 10, 2013.
IAM is one of Canada's leading alternative asset management companies with approximately $1.9 billion in assets and committed capital under management in real estate, private corporate debt, private equity, managed futures and retail alternative investments.
Contacts:
Integrated Asset Management Corp.
Stephen Johnson
CFO
416 933 8278
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 07.05.2013 - 20:26 Uhr
Sprache: Deutsch
News-ID 257269
Anzahl Zeichen: 1809
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Investment Services & Trading
Diese Pressemitteilung wurde bisher 201 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Integrated Asset Management Corp. Announces Results for the Second Quarter of Fiscal 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Integrated Asset Management Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
