Perpetual hit by fund outflow

An outflow of funds in the fourth quarter will make it hard for Perpetual to meet forecasts for 2016, but its longer term prospects remain fair.

In Perpetual sees third-quarter inflow on 21 Apr 15 (Hold – $57.53) we wrote that ‘assuming flat [funds under management] for the final quarter would lead to average FUM of $32.7bn for the year, 14% higher than in 2014’, but that has turned out to be a stretch.

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