Perpetual

Perpetual has announced funds under management (FUM) as at 31 December, 2012 of $24.3bn, 3.0% ahead of their level at 30 September 2012. However, the headline number masks the fact that there was a net fund outflow of $600m (the same as in the September quarter), offset by a $1.3bn increase in asset values. Of course, the overall FUM are what matter to the bottom line, and given fund managers’ high operational leverage, changes can make a big difference. Investors appear to have taken this point to heart, pushing Perpetual's share price up almost 40% since we last covered...

Perpetual has announced funds under management (FUM) as at 31 December, 2012 of $24.3bn, 3.0% ahead of their level at 30 September 2012.

However, the headline number masks the fact that there was a net fund outflow of $600m (the same as in the September quarter), offset by a $1.3bn increase in asset values.

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