Pendals (ASX:PDL) FUM up 5.4% in December quarter

Investment management business, Pendal Group (ASX:PDL) saw funds under management rise 5.4 per cent to $97.4 billion in the December quarter.

It says the result was driven by “a combination of strong markets and investment outperformance”.

This comes despite outflows of $1.6 billion, and a negative currency impact of $2.7 billion as the Australian dollar strengthened against major currencies during the period.

Shares in Pendal Group (ASX:PDL) are trading 2.3 per cent lower at $6.53.
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Source: Finance News Network