Perpetual lifts funds under management

Wealth manager reports an increase in funds managed in March quarter.

Perpetual has reported a slight lift in funds under management in the March quarter, on the back of a refreshed sales and distribution strategy, the company said.

Total average funds under management lifted by 2% to $30.6 billion in the March quarter, compared with the December quarter, Perpetual said.

The firm's funds under management also included $1.3 billion from The Trust Company, which was acquired in December 2013.

Perpetual chief executive officer Geoff Lloyd attributed the lift to the group's reinvigorated sales and distribution strategy and its asset management team.

"It was pleasing to see growth in funds under management last quarter, compared to $0.1 billion net outflow in the same period last year," Mr Lloyd said.

"We look forward to maintaining momentum in the fourth quarter of the 2014 financial year."