The company also enjoyed a 51 per cent increase in funds under management (FUM) up 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 CEO Nick Good said the acquisition is expected to deliver double-digit EPS accretion in the first-year post-completion.
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.”
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
