IOOF Holdings (IFL)

Shares / Stock Code

IFL

Stock Exchange / Sharemarket

ax

IOOF Holdings (IFL) is a financial services provider in Australia with IOOF Investment Management Limited as a responsible entity for the Company. IFL listed on the Australian Stock Exchange on December 5, 2003. The Company is actively involved in the provision of diversified financial products along with portfolio administration services which comprise investments, superannuation, immediate and deferred annuities, and investment trusts. IFL also caters financial planning and counseling services. IOOF Holdings focuses its development activities through segments comprising wholesale and retail funds, portfolio solutions, investor solutions and consumer adviser group. The wholesale and retail funds division is engaged in the management and investment of monies on behalf of corporate, superannuation, institutional customers and private individual investor clientele. The portfolio solution division offers a wide a range of investment solutions for both employers and investors. The investor solutions division caters investment management services to investors and advisers. The consumer adviser group focuses on the distribution and management of retail funds.

IFL acquired the rest 21.85% interest in Perennial Investment Partners for worth around $67.9M. As at September 30, 2006, IOOF’s portfolio contained around $29 billion in funds under management, with more than 420 staff employed in the country. The Company’s financial planning businesses have been restructured and rebranded into Consultum Financial Advisers. SIRIS is the socially responsible investment research company of IFL. IOOF's brand name, the range of its products and the performance of its funds are its key competitive points.

IOOF Holdings History

IOOF was initially incorporated as a friendly society in 1846. It was owned by its members and it operated as a mutual organization engaged in the provision of a range of services to its members in order facilitate them. In the beginning, the Company’s activities were mainly consisted of the provision of sick pay and covering of funeral costs for its members. Now the Company has expanded its business operations to include marketing and administration of its funds management business. The company was demutualised and was listed on the ASX in June 2003.