After reporting successive months of improving fund flows, Perpetual Limited suffered a reversal in October.
The company announced to the Australian Securities Exchange today that funds under management as at October 31 stood at $28.8 billion, compared to $29.3 billion as at September 30.
The company noted that this decline had included net outflows of $170 million from an institutional client in cash as well as quarterly mortgage fund redemptions of $65 million.
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