Volatility erodes Perpetual FUM
Market volatility has continued to impact Perpetual, which has reported a further decline in funds under management (FUM).
The group reported to the Australian Securities Exchange this week that FUM had declined by close to $2.5 billion in June.
It said that FUM as at June 30 stood at $30.3 billion compared to $32.8 billion as at May 31.
Perpetual said the reduction in FUM was mainly driven by the decline in the S&P/ASX 300 Accumulation Index of 7.6 per cent.
It said that, in addition, the $30.3 billion was calculated after year-end net distributions of $0.3 billion.
AUTHOR
Mike Taylor
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