Perpetual clients pulled almost $9 billion out of the company’s funds management business in three months, just before the sale of the storied financial services firm’s wealth division.
In an update to investors, Perpetual chief executive Rob Adams described the company’s performance in the three months to June 30 as “mixed” and said its funds management business “experienced a difficult quarter”.
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
