The Commonwealth Bank of Australia Ltd
(ASX:CBA) says funds under management for the March quarter fell 2.6% to $145 billion.
CBA says funds under management during the period were impacted by outflows from short term cash mandates.
The company says Property & Alternate Investments also decreased for the quarter impacted by the sale of Aurora Place.
Funds under administration for the quarter dropped 1.7% to $189 billion, with net flows for the quarter negative $4.4 billion impacted by outflows from wholesale short term cash mandates.
FirstChoice recorded positive cash flows of $702 million for the three months to March 31.
The bank says Insurance Inforce Premiums as at March 31, stood 3.1% higher at $1.545 billion, driven by a solid increase in Wholesale Life and consistent growth in Retail Life and General Insurance.
The Commonwealth Bank reported profit after tax of $4.7 billion in the 2009 financial year.
