MA Financial’s asset management business logged a record $1.26 billion of inflows in the first half, but firm-wide revenue still fell 12 per cent as its investment banking was hamstrung by a lack of deal making.
Revenue for the 2023 calendar year dropped to $128.3 million, the company said. While revenue at its asset management arm fell 12 per cent, investment banking slumped 27 per cent as higher borrowing costs tempered appetite for mergers and acquisitions.
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Aaron Weinman is a correspondent at The Australian Financial Review who covers investment banks, private equity firms and the broader capital markets. Connect with Aaron on Twitter. Email Aaron at aaron.weinman@afr.com
