BluMont Capital Inc. announced on Friday that total revenue declined 5% to $3.7 million in the quarter ending June 30 from $3.8 million in the quarter ending June 30, 2005 as a result of lower performance fees realized. However, there was 11% growth in the predictable revenues of management fees, investment counselling and redemption fees.
Operating income improved to $0.3 million in the current quarter compared with breakeven results in the same quarter of the prior year. Net income was $0.2 million in the quarter, an improvement over the breakeven results of the prior year’s comparable quarter.
BluMont experienced AUM growth of 7% adding approximately $48.5 million of new assets since June 30, 2005.
BluMont Capital reports a decline in revenue for Q3
But company adds $48.5 million in new assets year-over-year
- By: IE Staff
- August 4, 2006 August 4, 2006
- 09:21