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Perpetual share price rises as fund manager grows FUM

Motley Fool Staff
ASX Investment Manager

The share price of fund manager Perpetual Limited (ASX: PPT) rose by 0.4% today after announcing its funds under management (FUM) for the quarter to 31 December 2019. 

Perpetual Investments’ FUM rose by $0.2 billion, compared to the prior quarter, to $26.3 billion at 31 December 2019. Total average FUM for the three months to 31 December 2019 was $25.9 billion.

The $0.2 billion increase in FUM over the quarter was mainly attributable to net inflows of $0.3 billion. 

This $0.3 billion was comprised of $1.1 billion of net inflows into ‘cash and fixed income’, but it was offset by a $0.8 billion net outflow from its Australian Equities strategy – this was primarily from the intermediary and institutional channels. There was also distribution payments to clients (net of automatic re-investment) of $0.1 billion.

Perpetual’s share price has risen by 31% over the past year, it has risen alongside the ASX 200 (ASX: XJO) and other share markets. 

The post Perpetual share price rises as fund manager grows FUM appeared first on Motley Fool Australia.

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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020