Bifm assets under management rise to P48.2bn

The assets under management as at June 30 include P6.8 billion from Bifm’s Zambian operations and P2.6 billion from BIFM Unit Trusts. In a statement released after the asset manager’s recent interims, Bifm officials said operating profits for the period rose 41% compared to the previous corresponding period, boosted by the performance of the company’s Zambian operations.

The Zambian operations notably contributed to Bifm’s performance in the first six months of the year, benefiting from favourable Pula/Kwacha currency movement effects and a once-off accounting adjustment. Bifm Unit Trust also delivered a positive performance, with operating profit rising 3.8 times compared to the same period in 2023, officials said.