Sydney, 15 September 2014
As part of its regular investor communications program, Macquarie Group (Macquarie) (ASX: MQG; ADR: MQBKY) will be presenting at the CLSA Investors Forum on 16 and 17 September 2014.
Contained within the presentation (see attached) is an update to the short term outlook statement that Macquarie provided at the Group’s Annual General Meeting on 24 July 2014.
Notably, we now expect MFG to be up on FY14 due to increased performance fees from the listed and unlisted funds.
Given the increased contribution expected from MFG, we now expect the FY15 result for the Group to be slightly up on FY14.
Our short term outlook remains subject to a range of challenges including:
Over the medium term, Macquarie remains well positioned to deliver superior performance. The Group has deep expertise in major markets and we continue to build on our strength in diversity and adapt our portfolio mix to changing market conditions. We are seeing the ongoing benefits of continued cost initiatives, our balance sheet is strong and conservative, and we have a proven risk management framework and culture.