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Income Asset Management Group Limited ( (AU:IAM) ) has issued an update.
Income Asset Management Group Limited has announced the resumption of its trading on the Australian Securities Exchange following an investigation into fraudulent transfers amounting to approximately A$1.5 million. These funds, which were not client assets, were transferred to a former employee’s account. The company has taken legal actions and notified relevant authorities to address the issue. Despite the incident, IAM assures stakeholders of its continued operational capability and commitment to safeguarding client assets, with no impact on its bond administration and custody arrangements.
The most recent analyst rating on (AU:IAM) stock is a Buy with a A$0.08 price target. To see the full list of analyst forecasts on Income Asset Management Group Limited stock, see the AU:IAM Stock Forecast page.
More about Income Asset Management Group Limited
Income Asset Management Group Limited operates in the financial services industry, focusing on asset management and debt capital raising. The company is involved in managing client assets and ensuring secure transaction settlements through its custodian services.
YTD Price Performance: 28.12%
Average Trading Volume: 1,613,862
Technical Sentiment Signal: Hold
Current Market Cap: A$38.17M
For a thorough assessment of IAM stock, go to TipRanks’ Stock Analysis page.