Commonwealth Bank of Australia
(ASX:CBA) has today released its funds under administration, funds under management and insurance inforce premiums for the June 2010 quarter.
Funds under administration were $187 billion at 30 June 2010, falling 1.3% for the quarter.
Commonwealth says the result came despite a drop in investment markets with the S&P/ASX200 down 11.8% and the MSCI World (AUD) index down 5.1% over the quarter.
The bank reports net flows for the quarter were negative $50 million, impacted by outflows from wholesale short term cash mandates, while FirstChoice recorded positive net flows of $872 million for the quarter.
Commonwealth says funds under management were $144 billion, down 0.6% and insurance inforce premiums were $1.58 billion, up 2.5% for the June quarter.
Commonwealth Bank of Australia reported a $4.7 billion profit for the year ending 30 June 2009.
