These ASX 200 shares have just delivered positive third quarter updates

It isn't just Australia and New Zealand Banking Group (ASX:ANZ) releasing an update today. Here's are two ASX 200 updates that have gone down well with the market…

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It certainly has been a busy day for investors with the release of a half year result from banking giant Australia and New Zealand Banking Group (ASX: ANZ) and countless quarterly updates.

In respect to the latter, a couple of third quarter updates that caught my eye this morning are summarised below. Here's how these ASX 200 shares are performing during the pandemic:

IOOF Holdings Limited (ASX: IFL)

The IOOF share price has jumped 9% to $4.11 in morning trade after revealing a sharp increase in funds under management, advice and administration (FUMA). According to the release, IOOF's FUMA grew by 34.2% or $49.8 billion over the three months to $195.6 billion at the end of March.

Though, it is worth noting that this was driven largely by the acquisition of the OnePath Pensions and Investments business from Australia and New Zealand Banking Group for $850 million. This acquisition added FUMA of $77.1 billion.

In addition to this, the company advised that the market values of its assets were impacted by the COVID-19 pandemic, resulting in a $26 billion or 11.7% reduction in total asset values. However, this is substantially lower than generally observed reductions in equity markets both domestically and globally. The ASX All Ords index fell 24.9% over the same period.

Mirvac Group (ASX: MGR)

The Mirvac share price is up almost 4% to $2.18 after the release of an operational update for the third quarter of FY 2020. Investors appear happy with its strong balance sheet and management's prudent capital management measures.

They may also be pleased to see that the company continues to focus on the future and opportunities to generate value for shareholders.

Mirvac's CEO & Managing Director, Susan Lloyd-Hurwitz, commented: "Mirvac is getting on with preparing for the recovery that will come. We have bolstered our short term resilience, and also maintained our focus on the future. We continue to work on our development pipeline, exploring a range of additional opportunities and improving our capabilities, in order to expedite the recovery process."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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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