Australian Ethical Investment Limited
(ASX:AEF) has announced that a director of the company, Tony Cole will be retiring from the board, while it also saw its funds under management rise 7% in the first quarter of 2017.
The ethical fund manager says Tony Cole will leave the board effective 30 June 2017, for health and family reasons. A search for his replacement is currently underway.
Meantime, the company says its funds under management (FUM) firmed higher on the back of rapid growth in the market.
Its FUM hit $1.97 billion at 31 March 2017 and reached over $2 billion on 24 April 2017.
Shares in Australian Ethical Investment Limited
(ASX:AEF) are currently trading 2.44% lower at $88.00.
