Perpetual saw its share price jump almost 2.5 per cent yesterday after the fund manager reported a 35 per cent rise in annual profit.
The group's net profit was $182.11 million for 2006/07.
Operating profit, or net profit before gains realised on the sale of investments, rose 19 per cent to $145.34 million.
Perpetual chief executive David Deverall said that long-term growth in superannuation would continue to drive a positive outlook over the medium-term for Perpetual.
"Throughout the year, we will also continue to invest where necessary to realise our strategy," he said.
Perpetual's funds under management rose 19 per cent to $39.1 billion, driven by strength in the Australian equity market, solid flows from intermediary and institutional channels and a solid performance from its asset managers, the groups annual report said.
Funds under advice from private clients rose 27 per cent to $8.4 billion, with super funds under advice up 50 per cent and net super inflows growing by 400 per cent from the previous corresponding period.
Perpetual's chairman Robert Savage said the introduction of a new group strategy four years ago had helped drive the growth
"The opportunities in our industries are significant. To take advantage of these opportunities and create enduring value for our shareholders, we have successfully balanced investment in existing and new businesses with period on period profit and dividend growth," Savage said.
Perpetual's share price closed at $77.63 up $1.83 or 2.4 per cent.
