IOOF (ASX:IFL) grows FUMA by 3% to $142.7b in 3 months

Company News

by Rachael Jones

IOOF (ASX:IFL) has grown Funds under Management, Advice and Administration (FUMA) by 3 per cent to $142.7 billion in 3 months to 30 September 2019.

This represents an increase of 3.1 per cent or $4.2 billion, compared to 30 June 2019 (excludes Ord Minnett as the divestment was completed on 24 September 2019).

IOOF say they continued to experience solid net flows in an extremely challenging operating environment for the industry.

Shares in IOOF (ASX:IFL) trading 2.9 per cent higher at $7.76.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.