“Only the Westpac Legacy book and the OIECs experienced net outflows, and the level of outflow among the OEICs was markedly reduced,” Pendal’s chief executive, Nick Good, said.
“Importantly, we are now seeing a significant improvement in investment performance across the business, with many of our key strategies in the top quartile over the past year. Also of note is the strong flows into our recently launched Regnan Global Equity Impact Strategy,” he added.
As at 31 March, 2021, the status of Pendal Australia’s performance fees for the performance year ending 30 June 2021 stood at $16.8 million and the company stated that its performance fees would not be determined until the end of the performance period and would remain highly variable until that time.