iFAST, which is one of my major positions reported a mixed set of results for the second quarter of 2019 but there was some good news too. Assets under administration (AUA) grew 8.5% year on year to a record SGD9.0 billion despite weak unit trust subscriptions. The company's bond business is growing rapidly with bonds … Continue reading iFAST Q219 results: Record AUA, Singapore digital bank license bid but lower net profit
Category: iFAST
Portfolio review: Q1 2019 results
All five Evergreen stocks (iFAST, Kingsmen, SOG, China Aviation Oil and HRNet) reported poor results for the first quarter of 2019 but I'm sticking with them. These companies have a history of producing great results and I'm giving them 2-3 years more before I consider selling. iFAST Revenue and net profit declined because of "a … Continue reading Portfolio review: Q1 2019 results
iFAST update: Moat growing wider
iFAST has published their 2018 annual report with the company reporting the highest growth in client accounts since it was listed. These statistics were previously released in their February 2019 results presentation but they jumped out at me when I was reading their annual report. As of end 2018, the number of client accounts grew … Continue reading iFAST update: Moat growing wider
Five Evergreen shares and one test
HRNet and Singapore O&G are the most profitable companies in my portfolio based on the gross profitability ratio. After reading Michael Mauboussin’s excellent Base Rate Book, I applied the gross profitability screen to my existing portfolio. Gross profitability or Gross Profits divided by Total Assets measures a company’s ability to make money and is used … Continue reading Five Evergreen shares and one test
iFAST sets SGD100 billion AUA target
iFAST announced a great set of Q2 2018 results with double digit growth in revenue, earnings and AUA (Assets under Administration) along with its ambitious 10 year vision. Net revenue grew 25% year on year to SGD30.9 million which led to net profit growing 40% to SGD2.9 million in the second quarter of 2018. AUA … Continue reading iFAST sets SGD100 billion AUA target
iFAST cuts SG and HK stockbroking fees
Quick update on iFAST which in my view is poised to see double digit growth over the next five years. iFAST recently said it intends to lower its Singapore and Hong Kong stockbroking commissions from 0.12% to 0.08%, the lowest in Singapore. Cutting stockbroking commissions is a great move for 3 reasons. First, more than … Continue reading iFAST cuts SG and HK stockbroking fees
iFAST: A fast-growing company
iFAST: A fast-growing company Apple, Alphabet and Microsoft are the 3 largest companies in the world by market capitalisation as of the first quarter of 2018. What do these three companies have in common? They are all platform companies – companies that combine demand and supply and benefit from network effects. Platform companies typically see … Continue reading iFAST: A fast-growing company
