Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

7478

Matrix reports EBITDA of USDD6.9m for 2010

RELATED TOPICS​

Matrix Asset Management’ has reported EBITDA of USDD6.9 million, or USD8.8 million on a recurring basis, and Free Cash Flow of USD8.2 million, for the hear end 31 December, 2010.

Net income for the year was USD0.4 million, and recurring income before taxes was USD2.9 million.

Financially during the fourth quarter of 2010, the Company continued to generate significant cash flow from operating activities and maintained healthy capital resources. For the quarter, EBITDA was USD1.5 million, or USD1.9 million on a recurring basis, and Free Cash Flow was USD1.3 million. Net income for the quarter was USD0.5 million, and recurring income before taxes was USD0.6 million.

Management efforts in the fourth quarter were focused on preparations for the 2011 RSP season for sales of its now well diversified array of retail investment funds. Management also continued to focus on integration, rebranding and reorganisation activities to attain synergies, raise the bar on quality and set the stage for future assets under management (AUM) growth and new product introductions. To that end, the Matrix 2011-I National and Québec Resource Flow Through LP filed its prospectUSD in the fourth quarter and had its first closing in March 2011.

David Levi, President and CEO of Matrix, says: "2010 was a year of development and accomplishments for Matrix. We have put in place a solid national asset management platform while realizing strong operating efficiencies. The brands within the Matrix group of companies have benefited from the business combination between GrowthWorks Ltd. and SEAMARK Asset Management Ltd. In July 2010, the mutual funds distributed by subsidiaries of Matrix were re-organised and re-branded as the ‘Matrix Funds’.

"Since the re-organising and re-branding, Matrix Funds total AUM has increased from USD334.1 million as at July 31, 2010 to USD400.6 million as at December 31, 2010. Moreover, SEAMARK won new mandates, the first time since 2008 and representing the largest amount since 2004. Over the next year, we will continue to focUSD on marketing, new mandates and products, and realising additional operating efficiencies within the Matrix platform."

Latest News

EFAMA has commented on today’s vote by the European Parliament in favour of a new..
Morgan Stanley Investment Management (MSIM) has announced the launch of the MS INVF Systematic Liquid..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins..

Related Articles

n response to the increased attention to climate change risk, institutional investors, asset managers, and asset owners in the US are committed to implementing a variety of measures to address climate change and reach their net-zero goals, according to Cerulli Associates...
n response to the increased attention to climate change risk, institutional investors, asset managers, and asset owners in the US..
Lord Hollick, House of Lords
A House of Lords committee has raised “significant concerns” over the role of UK regulators, their ability to operate with genuine independence from government and how they are held to account...
A House of Lords committee has raised “significant concerns” over the role of UK regulators, their ability to operate with..
Rob Edwards, Morningstar
The complexities of assessing performance from responsible investment strategies have been laid bare after Morningstar’s ESG indices delivered a mixed bag in 2023...
The complexities of assessing performance from responsible investment strategies have been laid bare after Morningstar’s ESG indices delivered a mixed..
David Vieira, JTC Group
Investment trusts are the latest sector of the financial services industry to come under fire for failing to cater adequately for responsible investors...
Investment trusts are the latest sector of the financial services industry to come under fire for failing to cater adequately..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by