HMC Primed for Next Phase of Growth Strategy Following Successful Transition to Capital Light Fund Manager

HMC Primed for Next Phase of Growth Strategy Following Successful Transition to Capital Light Fund Manager

Home Consortium (ASX.HMC) announces its FY21 full year results. Following a successful transition to a capital light fund manager, the group is primed for the next phase of its growth strategy. HMC successfully listed HomeCo Daily Needs REIT (ASX.HDN) in Nov-20 and is on track to list HealthCo REIT in Sep-21 following a successful $650 equity raise.

HMC Managing Director and CEO, David Di Pilla, said "We are pleased to deliver another strong set of results which validate our strategy and the significant value we've created for HMC securityholders since IPO. We delivered FFO of 13.1 cps or 15.2 cps on an adjusted basis for the in-specie distribution, up 75% on FY20."

"FY21 was a transformational year for HMC on our journey to become Australia's alternative asset manager of the future. We successfully transitioned from a pure asset owner with $0.9bn of AUM at IPO to a capital light fund manager with the ability to grow externally managed AUM to $10bn+ with existing capital sources."

HMC has started FY22 with strong momentum and is pleased to provide guidance of Pre-tax FFO of at least 18.5 cents per security and FY22 DPS guidance of 12.0 cents.

Related

HMC Capital Establishes Private Credit Platform & Equity Raising
ASX Announcement Media Announcement HMC Capital Partners Fund

HMC Capital Establishes Private Credit Platform & Equity Raising

The Hon. Julia Gillard AC to Chair HMC Energy Transition Fund
ASX Announcement Media Announcement HMC Capital Partners Fund Corporate

The Hon. Julia Gillard AC to Chair HMC Energy Transition Fund

HMC Capital announces new Energy Transition platform
ASX Announcement HMC Capital Partners Fund ESG

HMC Capital announces new Energy Transition platform