Australian Ethical sees FUM growth through volatile quarter
Responsible investment fund manager, Australian Ethical, has seen its funds under management (FUM) continue to rise in the face of market volatility.
In a statement to the Australian Securities Exchange (ASX), Australian Ethical managing direct, Phil Vernon, reported its total FUM increased by $26.7 million in the first quarter.
Data released by the company showed inflows into its superannuation options countered a decline it its managed fund offerings.
"Australian Ethical recorded a slight increase in funds under management over the quarter, despite negative market movements due to the significant market volatility throughout the quarter," he said.
"Net flows into our managed funds have also been impacted by what appeared to be cautious sentiment by investors given the market conditions.
"Net inflows to our superannuation fund continued to grow with a 13.1 per cent increase when compared to the previous quarter."
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