Perpetual has posted an increase in funds under management (FUM) for the quarter ended 31 December 2012.
The business' FUM rose from $23.6 billion to $24.3 billion, a 3 per cent increase for the group, Perpetual said in its Q2 financial year 2013 update to the Australian Securities Exchange (ASX) on Friday.
The total average FUM for the three months to December 31 was $24.1 billion.
The change in FUM over the period was mainly attributable to an increase of $1.4 billion due to equity market appreciation, offset by a decrease of $100 million due to semi-annual distributions.
The firm reported $600 million of net fund outflows, compared to $900 million of net fund outflows in the same period last year.
The outflows consisted of $500 million in net outflows from the equities asset class, including $600 million net outflows from the ordinaries strategy, net inflows of $200 million into a sustainability mandate from a new institutional client, and $100 million of net inflows into the concentrated and ethical strategies.
The results also included $100 million of net outflows from the cash and fixed interest asset class, largely institutional cash.
The upward movement forms part of a steady increase of FUM seen by Perpetual. In October, the group also posted a 4.4 per cent increase for the period ending 30 September 2012, also citing equity market appreciation.
