Mavrix Fund Management Inc. released unaudited financial results for the three and six months ended June 30 on Tuesday.
Total AUM+A at June 30, was $788.8 million, up 5% from $752.8 million at June 30, 2005. The increases are attributable to market appreciation and fund sales. AUM+A at June 30 was comprised of $474.1 million of Mavrix Mutual Funds, $161.1 million of Specialty Funds and $153.6 million of administrative services.
For the six months ended June 30, revenue totalled $5.95 million compared to $4.57 million for the six months ended June 30, 2005. The year–over-year increase in revenue was the result of the increase in AUM+A.
Net loss for the six months ended June 30 was $535,000 compared to a net loss for the six months June 30, 2005 of $514,000. For the three months ended June 30, revenue totalled $2.93 million compared to $2.47 million for the three months ended June 30, 2005.
Net loss for the three months ended June 30 was $554,000, compared to a net loss for the three months June 30, 2005 of $242,000.