Mint Asset Management's annual fee income fell 13.4%

Mint, part of the Amplifi group, which includes the Sage and Totara financial planning businesses, saw its fee income for the year ended March fall by 13.4%, or by $595,930 to $3.9 million.

Executive chair Rebecca Thomas says Amplifi’s strongest growth has been in wealth management while the funds management business has been “moribund.”

The Mint Australasian Equity Fund, the company’s largest, both performed well and brought in a 12.1% increase in management fees in the latest year to $2.1 million.

The fund grew in size from $182.3 million to $205.7 million in the year and its annual return before tax of 3.38% outperformed its index benchmark’s return of 1.36%.