Insignia Financial (ASX:IFL) reported funds under administration came in at AU$231.37 billion in the quarter ending Dec. 31, 2024, up from AU$ 228.79 billion in the quarter ending Sep.30, according to a Thursday filing with the Australian bourse.
The company attributed the increase to strong institutional flows, supported by the launch of the MLC Reinsurance Investment Fund.
Meanwhile, funds under management for the quarter was AU$95.4 billion, up from AU$90.81 billion the previous quarter.
Overall, funds under management and administration for the quarter rose to AU$326.88 billion, a 2.2% increase from AU$319.6 billion in the September quarter.
Additionally, Bain Capital raised its bid for Insignia Financial (ASX:IFL) to AU$4.60 cash per share from its previous bid of AU$4.30 cash per share, a separate filing showed.
The revised bid represents a 7% premium to its previous bid and the same proposal as that of CC Capital Partners, the filing said.
To determine if Bain Capital can further sweeten its proposal, the wealth manager has granted the investment firm due diligence on a non-exclusive basis, the filing added.
The company confirmed there is no certainty of a transaction, and shareholders are advised no action is needed at this stage.
Shares of the company rose nearly 2% in recent Thursday trade.
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