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.