Australian Ethical recorded a $360 million rise in funds under management during the March quarter, up by 7.1 per cent.
The ethical wealth group ended March with $5.41 billion in funds under management (FUM), as the product of $300 million in net inflows and a $60 million boost from market performance.
Australian Ethical posted a 33.4 per cent in FUM for the financial year to date, or the nine months to 31 March. It has gained $720 million in net inflows during the period, with $640 million resulting from investment performance.
The superannuation segment finished the quarter with $3.51 billion in management, attracting net inflows of $160 million during the quarter.
The super business has grown by 29 per cent in the financial year to date, in terms of FUM, excluding $40 million being withdrawn through the early release of super scheme.
Australian Ethical’s managed funds on the other hand, closed with $1.9 billion, attracting $130 million in net flows. The segment has surged by 42 per cent in the financial year to date.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].