NZX reports profit

NZX has reported profit of $11.6 million for the 2019 financial year, including growth in its wealth businesses.

Friday, February 15th 2019, 11:03AM

The stock exchange operator said SmartShares had 8.1% growth in FUM in 2018 to $2.9 billion.

During the year, it launched an institutional sales channel and retail member numbers were up 10%.

NZX funds under management were up 8.1% to $2.9b.

Funds distributed through new platforms, including Sharesies and Investnow, were up 350%.

Wealth Technologies reported funds under administration growth of 70.2% to $1.98b.

After Craigs Investment Partners went live in November as NZX Wealth Technologies’ first customer, NZX said its focus was on product refinement and sales.

Total capital raised in the year was up 10% to $9.5b.

Last month NZX revealed its plan to boost the number of new listings via a programme dubbed Capital Markets 2029, undertaken with the FMA.

Tags: NZX

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