Treasury Group has joined the growing number of publicly-listed financial services houses doing it tough in the face of ongoing market volatility, reporting a 3 per cent drop in funds under management (FUM) during the September quarter.
The company announced to the Australian Securities Exchange today that FUM had decreased by 3 per cent to $12.11 billion due to falls in Australian and global share markets.
However, it said that, at the same time, the group had experienced net positive inflows of $527.67 million and had paid $311.50 in distributions.
The director said that notwithstanding the market turmoil, they were pleased to report that the boutique managers had performed relatively well, especially the value-based boutiques.
