Pendal’s Australian funds under management contracted to $34. 5 billion in the March quarter. Pendal Group’s FUM edged down to $124. 9 billion at the end of March, from $135. 7 billion on 31 Dec
Pendal has rejected Perpetual’s takeover bid, claiming it undervalues the company, before unveiling a $100 million share buyback and reporting sliding funds under management.