Plan B's funds up 1.1%

Plan B Group Holdings Ltd says it is on track to achieve its existing profit forecast, after reporting that its funds under management increased by just 1.1 per cent last financial year.

The Perth-based company said funds under manageemnt, administration or advice were $1.77 billion, as at June 30 2008.

This was an increase of 1.1 per cent on Plan B's FUMA position from June 30 2007, despite challenging equity market conditions experienced since that time.

The company achieved a positive net new inflow of funds in each quarter of the 2008 financial year.

Total FUMA decreased 2.2 per cent in the quarter ended 30 June 2008, compared with the position as at 31 March 2008, reflecting the present market environment.