In an announcement to the Australian Securities Exchange, the firm said funds under management were US$89.8 billion ($121.3 billion) in February. This was down from US$91.3 billion in January.
However, this was mostly due to negative market performance, which caused a loss of US$3.1 billion, and the firm said it saw positive net inflows of US$1.6 billion during the month.
FUM was divided between US$31.8 billion in international equity, US$27.6 billion in global equity, US$24.6 billion in emerging markets equity and US$5.8 billion in US equity.
The largest change came in the emerging market equity space which lost US$0.9 billion and was the only strategy that failed to outperform during the month. Over one month to 28 February, the fund lost 6.7% compared to losses by the MSCI Emerging Market index of 2.9%.
In light of the Russia/Ukraine war, the firm said it had “very limited direct exposure” to Russia.
“In the accounts where we have responsibility for valuation, our exposure to Russia is 0.07% in emerging markets, 0.03% in international and 0.01% in global (using a representative account as an example). Our exposure is generally similar for accounts where another party is responsible for valuation.”
