The Perpetual Ltd (ASX: PPT) share price is in focus today following the release of its third quarter FY26 update, highlighting total Assets Under Management (AUM) declining to A$219.2 billion and steady growth in Corporate Trust's Funds Under Administration.
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What did Perpetual report?
- Total AUM at 31 March 2026 was A$219.2 billion, down 3.6% from December 2025.
- Net outflows of A$2.8 billion (or A$4.9 billion excl. cash), mainly from global strategies.
- Corporate Trust Funds Under Administration rose 0.3% to A$1.32 trillion.
- Managed Funds Services FUA increased 1.3% to A$588.2 billion, with new client growth.
- Expense growth guidance for FY26 maintained at 1–2%.
- Wealth Management FUA fell 4% to A$21.1 billion, mainly due to negative market movements.
What else do investors need to know?
Perpetual's Corporate Trust division continued to see growth even as market volatility persisted, particularly benefiting from new and existing clients in the Managed Funds Services and Digital & Markets areas. The robust non-bank client segment helped support Debt Market Services, although some segments faced declines.
Perpetual also announced the sale of its Wealth Management business to Bain Capital Private Equity. The transaction is expected to complete later in 2026, subject to conditions, and work is underway to ensure a smooth transition.
A stronger Australian dollar against the US and UK currencies, combined with market declines, particularly impacted Perpetual's international AUMs.
What did Perpetual management say?
Chief Executive Officer and Managing Director Bernard Reilly said:
The business has been resilient through what continues to be a highly volatile period in global equity and economic markets. In the March quarter, our Corporate Trust business continued to deliver consistent growth for Perpetual, benefiting both from growth from existing clients and new client wins. … All our teams remain focused on delivering investment outperformance for our clients through these turbulent times. We believe we are well placed in this period of volatility to strengthen our investment performance, particularly in our value-style strategies.
What's next for Perpetual?
Looking ahead, Perpetual is keeping operating expenses under tight control, reaffirming its FY26 guidance for expense growth of just 1% to 2%. The group's focus remains on supporting clients and strengthening investment performance, particularly in value-style strategies amid ongoing market uncertainty.
With the pending sale of the Wealth Management business, the company is set for a more streamlined operating model and will continue to invest in growth areas, especially those benefiting from changing client and market dynamics.
Perpetual share price snapshot
Over the past 12 months, Perpetual shares have risen 11%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 15% over the same period.
