Australian Ethical Investment (ASX:AEF) has reported a record $9.02B in funds under management (FUM) as of May 31, 2023, a 3% increase since the end of March and a 45% increase year-over-year.

The company credits successful integration of the Christian Super successor fund transfer and positive investment returns and organic net cash flows for the growth.

Australian Ethical Investment said it expects revenue for the second half of FY23 to be 21% higher than the first half, with underlying profit after tax (UPAT) for the same period to be around 30% higher.

Australian Ethical Investment said it plans to focus on further middle and back-office synergies, as well as transitioning the superannuation administration services to a single provider, GROW Technology Services.