Blue-chip fund manager Perpetual Ltd suffered net outflows of $1.2 billion in the December quarter, but the so-called Santa rally in financial markets saved the company from ending the year with a loss in assets under management.
“Across our asset management business, we benefited from a rebound in equities markets in the quarter and while at a headline level we reported net outflows of $1.2 billion, we saw continued and solid interest in our global equities capabilities.” Perpetual expects to complete its acquisition of Pendal on Monday after the Supreme Court formally approved its scheme of arrangement this month.
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Lol. Biden has screwed things up so bad there will be no covering this up. Watch.