Perpetual has announced a net inflow of $0.5bn of funds for the December quarter. On the plus side was $0.5bn of largely institutional money that flowed into Australian equities, plus about $250m raised by Perpetual’s first listed investment company, Perpetual Equity Investment Company. The latter was at the lower end of the targeted $150–600m (see Perpetual launches new LIC on 24 Oct 14). These set off against a net outflow of $0.2bn from cash and fixed income.
Asset appreciation added another $0.6bn net of distributions, to give a total increase in funds under management (FUM) over the quarter of $1.1bn, to $31.8bn.