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Perpetual turns declining FUM trend around
Perpetual has recorded the first rise in funds under management (FUM) in more than six months, with a rise from $22.9 billion to $24.4 billion in March this year.
The rising share market and net inflows of $300 million into its cash and enhanced cash products and $100 million into international equities were responsible for the rise, said chief financial officer Roger Burrows.
Perpetual FUM was $31.4 billion in August last year. Perpetual Private Wealth recorded a 29 per cent decline in profit last year, while FUM dropped from $8.4 billion to $7.7 billion.
Perpetual Investments and Perpetual Corporate Trust were in negative territory at the end of last year.
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