The country’s oldest and largest asset manager, Bifm, reports that its assets under management rose 16% to P48.2 billion in the first six months of the year, helping profits higher for the period.
The assets under management as at June 30 include P6.8 billion from Bifm’s Zambian operations and P2.6 billion from BIFM Unit Trusts. In a statement released after the asset manager’s recent interims, Bifm officials said operating profits for the period rose 41% compared to the previous corresponding period, boosted by the performance of the company’s Zambian operations.
The Zambian operations notably contributed to Bifm’s performance in the first six months of the year, benefiting from favourable Pula/Kwacha currency movement effects and a once-off accounting adjustment. Bifm Unit Trust also delivered a positive performance, with operating profit rising 3.8 times compared to the same period in 2023, officials said.
Commenting on the first half performance, Bifm CEO, Clair Mathe-Lisenda said the results are a clear testament to the company’s commitment to growth and its ability to deliver consistent value to its stakeholders. She said the significant increase in assets under management was particularly encouraging, as it reflects both the strength of Bifm’s offerings and the confidence clients place in the company.
