Perpetual Limited (ASX:PPT) has boosted its funds under management in the first three months of 2014.
The financial services group increased total average funds under management by 2 per cent to $30.6 billion in the March quarter from the prior quarter.
CEO Geoff Lloyd says the improvement reflects the company’s reinvigorated sales and distribution strategy and asset management team.
Mr Lloyd says Perpetual looks forward to maintaining momentum in the fourth quarter of the current financial year.
The company’s funds under management at the end of March included $1.3 billion from The Trust Company which it acquired at the end of 2013.
Perpetual reported a net profit of $33.7 million in the first half of the 2014 financial year.
