Perpetual assets rise despite $1.2bn outflows
Perpetual assets rise despite $1.2bn outflows
Perpetual managed a sizeable uptick in assets under management over the March quarter, with the group continuing to branch out its operations overseas.
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Perpetual gave its third-quarter business update on Friday, where it revealed its total assets under management (AUM) sat at $95.3 billion at the end of March, rising from $89.2 billion at the end of December. The increase occurred despite $1.2 billion in net outflows during the quarter, overwritten by $6.5 billion coming in from market performance and other movements.
Perpetual Asset Management International’s total AUM, which included the recently acquired US groups Trillium Asset Management and Barrow Hanley Global Investors, rose by 8 per cent during the three months to March, to $71.6 billion. Market performance has offset $892 million in net outflows from the international segment, mostly from the institutional channel.
By Alex Druce
Shares in e-commerce firm Kogan.com were down more than 11 per cent in early trade as investors dumped the firm in the wake of a soft quarterly trading update.
Kogan - which soared during the pandemic - fell to an 11-month low $11.02 after it reported that sagging customer demand during the March quarter led to higher-than-expected storage expenses and a reduction in adjusted earnings.
Kogan said it had been increasing its promotional activity to improve its inventory position.
Kogan.com CEO Ruslan Kogan.
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âWhile short-term trading conditions can fluctuate, we remain focused and committed to our long term vision,â founder and chief executive Ruslan Kogan said.
Perpetual funds bolstered by value investing recovery
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A strong quarter for value investors helped the expanded Perpetual Limited offset $1.1 billion of client outflows, which its chief executive says are slowing as performance recovers.
Perpetual, which last year acquired international fund managers Barrow Hanley and Trillium, reported four per cent growth in total assets to $95.3 billion over the quarter, driven by an 8 per cent increase in its international strategies.
Perpetualâs Australian funds suffered $275 million of outflows, mainly from intermediary clients of its Australian equities funds. But that was offset by a $1.3 billion boost in asset values as markets improved while value investing strategies came good.
Perpetual defies outflows, builds UK team 23 April 2021
The investment group has flagged a steady rise in managed assets despite copping $1.2 billion in net outflows, as it continues on its international expansion plans.
Perpetual gave its third-quarter business update on Friday, where it revealed its total assets under management (AUM) sat at $95.3 billion at the end of March, rising from $89.2 billion at the end of December. The increase occurred despite $1.2 billion in net outflows during the quarter, overwritten by $6.5 billion coming in from market performance and other movements.
Perpetual Asset Management International’s total AUM, which included the recently acquired US groups Trillium Asset Management and Barrow Hanley Global Investors, rose by 8 per cent during the three months to March, to $71.6 billion. Market performance has offset $892 million in net outflows from the international segment, mostly from the institutional channel.