Perpetual upgraded to Buy

Perpetual's share price has fallen 11% since Perpetual: Interim result 2014 (Hold – $50.79), despite a flat sharemarket and another quarter of net inflows. There was a net inflow of $0.3bn in the third quarter, to 31 March, to follow inflows of $0.2bn and $0.4bn in the first and second quarters. The significance of these inflows is greater than their size, because they're the first in more than four years. Market movements have had the greater impact on funds under management, adding $0.3bn in the third quarter and taking funds under management  to $31bn – up from $25bn when...

Perpetual's share price has fallen 11% since Perpetual: Interim result 2014 (Hold – $50.79), despite a flat sharemarket and another quarter of net inflows.

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