Craigs' results point to funds management dominance

Craigs Investment Partners’ latest results for calendar 2024 provide some clues about the degree to which it has become more a fund manager than a stock broker, although its merchant banking fees and funds management fees are reported as a single line item.

The results show its brokerage revenue jumped 44.2% to $62.9 million in the latest year while its fees revenue was up 13.4% to nearly three times as much at $186.4 million.

The notes show fees revenue is both from investment banking and underwrite fees and from funds management services with the latter largely a percentage of funds under management.

Craigs also earned $17.5 million from commissions, down from $19.2 million in calendar 2023, taking total revenue for the latest year to $266.9 million, up 17.4%.