Volatility hits Perpetual FUM
The downturn in equity markets has hit Perpetual Limited with the company today announcing that its funds under management had declined to $32 billion as at March 31, down from $33.2 billion a month earlier.
Announcing the decline to the Australian Securities Exchange, the company said the reduction was mainly driven by the 3.4 per cent decline in the S&P/ASX 300 Accumulation Index during March.
It said that in addition there were net outflows of approximately $330 million from institutional clients.
AUTHOR
Mike Taylor
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