Perpetual (ASX:PPT) has reported a significant decrease in its assets under management (AUM), which fell by $12.4 billion in the fourth quarter, ending at $215 billion as of June 30. This drop contrasts with the $227.4 billion reported as of March 31.
Chief Executive Officer Rob Adams highlighted several factors contributing to this decline, including institutional client redemptions, delays in new institutional funds, and a downturn in equity markets.
The decrease in AUM was influenced by a combination of negative market movements, $1.4 billion in distributions, $2.1 billion in currency impacts, and net outflows totaling $8.9 billion.
Notably, net outflows were concentrated in Australian equities, multi-asset, and cash strategies. On the other hand, Australian fixed income strategies continued to see positive net inflows.
Perpetual’s shares were last traded at $22.75.
