Perpetual 4Q FUM increase by $0.6b to $30.8b

Company News

by Anna Napoli

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$42.260 -$0.194 -0.46%
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Last Updated: 17/02/2020 12:41 PM

Funds manager Perpetual (ASX:PPT) has today announced fourth quarter funds under management increased by $0.6 billion to $30.8 billion.

Meantime total average funds under management for the three months to June 30 2018 were $30.8 billion.

The company says the increase in funds for the three months was mainly due to market appreciation of $1.3 billion.

Other factors that helped to bolster results included $0.3 billion net outflows and a distribution payment of to clients of $0.4 billion.

In May this year the company announced the appointment of Rob Adams as CEO. He will take the reins from September this year.

Shares in Perpetual (ASX:PPT) closed 1.09 higher to $44.25 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.