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Perpetual share price rises as fund manager grows FUM

The share price of fund manager Perpetual Limited (ASX: PPT) rose by 0.4% today after announcing its funds under management (FUM) for the quarter to 31 December 2019. 

Perpetual Investments’ FUM rose by $0.2 billion, compared to the prior quarter, to $26.3 billion at 31 December 2019. Total average FUM for the three months to 31 December 2019 was $25.9 billion.

The $0.2 billion increase in FUM over the quarter was mainly attributable to net inflows of $0.3 billion. 

This $0.3 billion was comprised of $1.1 billion of net inflows into ‘cash and fixed income’, but it was offset by a $0.8 billion net outflow from its Australian Equities strategy – this was primarily from the intermediary and institutional channels. There was also distribution payments to clients (net of automatic re-investment) of $0.1 billion.

Perpetual’s share price has risen by 31% over the past year, it has risen alongside the ASX 200 (ASX: XJO) and other share markets. 

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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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