Australia's HMC Capital hits record high on upbeat AUM forecast

HMC Capital

27/11/2024 24:33

** Shares of HMC Capital  HMC.AX  rise as much as 7.3% to
their record high level of A$13.16
    ** The investment manager sees to grow AUM to A$50 billion+
($32.37 billion) over next 3-5 years
    ** Co says the AUM forecast implies a 23% per annum AUM
growth over 5 years or 42% over three years
    ** Says annualised pre-tax operating earnings currently
tracking at 70 AU cents per share
    ** Stock has risen 99.1% this year, as of last close

($1 = 1.5449 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))