Pendal’s FUM hits $101.7b

Pendal Group’s funds under management (FUM) has hit $101.7 billion at the end of the March quarter, representing a growth of 4.4%, driven by a combination of net inflows, strong performance and higher market contributions as well as a positive currency impact. 

In the announcement made to the Australian Securities Exchange (ASX), the firm said there was a positive currency impact of $0.9 billion thanks to the Australian dollar depreciation against key currencies. 

At the same time, inflows of $0.7 billion in Australia combined with substantially improved flows in the UK and Europe delivered healthy organic FUM growth. 

Related News:

“Only the Westpac Legacy book and the OIECs experienced net outflows, and the level of outflow among the OEICs was markedly reduced,” Pendal’s chief executive, Nick Good, said. 

“Importantly, we are now seeing a significant improvement in investment performance across the business, with many of our key strategies in the top quartile over the past year. Also of note is the strong flows into our recently launched Regnan Global Equity Impact Strategy,” he added. 

As at 31 March, 2021, the status of Pendal Australia’s performance fees for the performance year ending 30  June 2021 stood at $16.8 million and the company stated that its performance fees would not be determined until the end of the performance period and would remain highly variable until that time. 




Recommended for you

Author

Comments

Add new comment