Perpetual (ASX:PPT) has reported a 2.5 per cent increase in assets under management (AUM) for the June quarter, reaching $226.8 billion. This growth was primarily driven by positive market performance, which offset $3.9 billion in net outflows and a $5.1 billion currency impact for the fund manager. Perpetual is an Australian financial services firm that provides asset management, wealth management, and corporate trust services. The company aims to deliver sustainable investment outcomes and tailored solutions to its clients.
The group also announced it is expediting its restructuring plans for J O Hambro Capital Management and is actively engaged in discussions regarding the potential sale of its wealth management division. Barrow Hanley, Perpetual’s US arm, experienced a strong quarter with $0.9 billion in inflows, supported by new mandates. However, J O Hambro continued to experience asset outflows despite favourable market conditions in the UK.
Pendal, Perpetual Asset Management, and TSW all recorded modest outflows during the quarter. Wealth funds under administration saw a 2 per cent increase, reaching $21.5 billion, entirely attributed to market gains. Corporate trust funds under administration also grew to $1.27 trillion. Perpetual has achieved its $30 million annual cost savings target and has reaffirmed its expense growth guidance of 3 to 4 per cent for the 2025 fiscal year.
Significant items are projected to be between $195 million and $205 million, ahead of the company’s results scheduled for late August. According to Perpetual chief executive Bernard Reilly, Pendal and Perpetual boutiques in Australia continue to provide solid long-term investment performance for their clients, in spite of recent market dynamics presenting challenges for value-style managers such as Perpetual.
