Clime Investment Management Ltd (AU:CIW) has released an update.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Clime Investment Management Ltd has agreed to sell Madison Financial Group to Infocus Wealth Management, aiming to sharpen its focus on funds management and private wealth, with an expected operational profit boost of $500K. The $2 million deal, paid in convertible loan notes, is anticipated to simplify Clime’s business and drive cost efficiencies, while establishing a strategic partnership with Infocus. This strategic shift will allow Clime to leverage its $1.3 billion in funds under management and advice, while potentially sharing in the growth of Infocus.
For further insights into AU:CIW stock, check out TipRanks’ Stock Analysis page.