The global investment manager has reported a 51 per cent increase in funds under management (FUM) as of 30 September 2021.
In its 2021 full-year financial results, Pendal confirmed that FUM has increased to $139.2 billion on the back of completing the acquisition of US fund manager Thompson, Siegel & Walmsley (TSW) in July.
As well as doubling Pendal’s FUM, group chief executive Nick Good said the acquisition is expected to deliver double-digit EPS accretion in the first-year post-completion.
Pendal’s net profit after tax also jumped up by 42 per cent from $116.4 million last year to $164.7 million.
The Pendal board declared a final dividend of $0.24 per share, bringing the total FY21 dividend to $0.41 per share; an 11 per cent increase on last year.
“We start the new financial year with equity markets near all-time highs. However, we see pressure on flows, particularly in the institutional channel,” Mr Good said.
“While this may have short-term effects, we are confident that changes made to our sales leadership during the year and ongoing development of our US and European distribution strategy, will support future growth.
“Our core strategic priorities have been developed to create the best possible environment for our investment teams to thrive, which in turn produces superior results for our clients and shareholders.”
The FAAA has expressed concern regarding one area of the first tranche of QAR legislation that could potentially impose ...
The FSC CEO will join a long line-up of renowned speakers at the inaugural summit. Blake Briggs, chief executive ...
Legislation tabled in Parliament on Wednesday has made some amendments to ongoing fee arrangements and consent ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin