• Funds Under Management and Administration (FUMA) increased by $7.2 billion (+2.2%) to $326.8 billion
• Total net inflows for the quarter were $2.3 billion
• Successful IT separation of MLC from NAB achieved during the quarter

Insignia Financial Ltd (ASX: IFL) reported a 2.2% increase in Funds Under Management and Administration (FUMA) to $326.8 billion as at 31 December 2024, driven by $2.3 billion in total net inflows for the quarter. The company saw strong inflows into its MLC Expand, retail Asset Management, and institutional Asset Management businesses, partially offset by outflows from Master Trust and legacy Wrap products. Insignia Financial also successfully completed the IT separation of the MLC business from NAB during the quarter, which was a significant strategic milestone. The company outlined its 'Vision2030' strategy to become Australia's leading and most efficient wealth management company by 2030, focusing on technological and product innovation, cost optimisation, and business simplification. Insignia Financial plans to simplify and transform its Master Trust business through an agreement with SS&C Technologies, which is expected to deliver meaningful scale benefits for members and contribute to the company's targeted net $200 million reduction in annual BAU operating costs by FY30.

Insignia Financial is targeting a net $200 million reduction in annual BAU operating costs by FY30.