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InvestSMART Group expects to book gain from capital raise, divestments

Australia's InvestSMART Group Ltd. expects to book an estimated gain of A$525,000 for the year ending June 30.

The expected gain is primarily due to capital risings and divestments of two investee companies. Majority of the gain is unrealized, according to a May 24 release.

For the year ended June 30, 2018, the company posted profit of A$230,284.

In January, the company said it is unlikely to meet its funds management income guidance of 300% annual growth in fiscal 2019 due to deteriorating market conditions.

The company will release its full-year results Aug. 28.