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.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
