Milford Funds after-tax profit drops 10.3% in 2023

The company made cash donations during the year of $359,913 to the Milford Foundation. (Image: Milford Asset Management)

Staff reporters

Fri, 28 Jul 2023

Milford Funds Limited has recorded an after-tax profit of $11.3 million for the March 31, 2023, year, a 10.3% decrease from the $12.6m of 2022. Milford Funds acts as the manager and issuer of the Milford Asset Management KiwiSaver plan and Milford investment funds.Profit before tax was $15.8m, compared with $17.4m in the 2022 financial year.The fund manager and KiwiSaver provider's total revenue for the year was $157.6m, down 9.6% from the previous year's $174.4m revenue.It recorded total equity of $26.1m, little changed from $26.0...

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