Investment group Perpetual closed the first quarter with a 2.7 per cent growth in assets under management, a marker of a solid start to the financial year.
Perpetual’s assets under management (AUM) reached $101 billion as at 30 September, with positive net flows of $100 million.
The group’s largest division, Perpetual Asset Management International (PAMI), which included the recently acquired US groups Trillium Asset Management and Barrow Hanley Global Investors, experienced a 2.6 per cent boost from 30 June to $75.5 billion at the end of the first quarter. PAMI’s increase in AUM of $1.9 billion was due to a positive currency impact of $2.9 billion offset by market depreciation of $900 million and net outflows of $100 million.
“In Perpetual Asset Management International, it was very pleasing to see another quarter of strong net inflows for Trillium Asset Management of $261 million globally, while the Trillium ESG Global Equity Fund reached AUM of $1.4 billion during the quarter, a genuine milestone for the team,” said CEO and managing director Rob Adams.
He revealed Perpetual’s plans to launch a UCITS structure in Europe are “progressing well”, with a targeted launch in FY22.
“Being able to offer this structure will open up more opportunities for Barrow Hanley and Trillium to distribute funds to UK, European and Asian-based clients,” he said.
Additionally, Mr Adams confirmed Barrow Hanley plans to launch its first collateralised loan obligation (CLO) fund in this calendar year with support from Perpetual.
“We intend on providing further support over time to Barrow Hanley’s CLO platform as part of the broader strategy to expand and diversify the firm’s product offering and global reach,” he said.
As for Perpetual’s local division, Perpetual Asset Management Australia (PAMA) held AUM of $25.5 billion as at 30 September, 3 per cent higher than at 30 June.
Net flows for the three months ended 30 September were $174 million, while growth in asset values for the quarter was $0.6 billion, net of distributions, driven by positive investment markets and positive relative investment performance.
“Our Australian equities funds continued to deliver strong performance over the quarter, and we have recently launched a new marketing campaign centred on our Australian equities capability, which has already seen a high level of interest from prospective investors,” said Mr Adams.
“We continue to invest in new capabilities to provide new avenues for growth and we are on track to launch two active ETFs in FY22.”
The Perpetual Corporate Trust also had a solid first quarter, posting a 5 per cent expansion in funds under administration (FUA) to $964.4 billion. Similarly, Perpetual Private’s FUA was $18.5 billion as at 30 September 2021, 9 per cent higher than at 30 June 2021.
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