Perpetual FUM declines
Market volatility has again eroded Perpetual’s funds under management.
The company told the Australian Securities Exchange today that as at September 30, its funds under management stood at $29.4 billion, down from $31.4 billion in August.
It said the reduction had been driven by declines in the S&P/ASX 300 Accumulation Index of 9.94 per cent and the S&P/ASX300 Industrials Accumulation Index of 4.77 per cent in September.
AUTHOR
Recommended for you
The popularity of ETFs, which are approaching $200 billion in Australia, is a potential threat to the advice landscape if consumers opt to invest directly, according to this senior partner.
A former AMP financial adviser has urged advisers in the BOLR class action against AMP to object to the “unfair and unreasonable” $100 million settlement sum as the objection deadline approaches on 22 May.
Two Victoria-based financial advice practices have merged and rebranded as Forbes Fava Saville Financial Planning, as the firm realises the benefits of added scale.
The Financial Services and Credit Panel has made its latest ruling over a case involving an incorrect Statement of Advice.
