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Pendal Group (ASX:PDL) - CEO and MD, Nick Good
CEO and MD, Nick Good
Source: Pendal
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  • Pendal Group (PDL) is releasing its latest quarterly update, revealing it had an increased $139.2 billion worth of funds under management (FUM)
  • By comparison, the investment management business finished the previous quarter with $106.7 billion worth of FUM
  • PDL is crediting the increase to its recent acquisition of fellow US investment company Thompson, Siegel & Walmsley
  • Pendal’s North American business segment had the most FUM at the end of September, with $63.9 billion under management
  • Shares in PDL have dipped following the release of September’s results, trading down 12.8 per cent at $6.74 each at 3:22 pm AEDT

Pendal Group (PDL) is releasing its latest quarterly update, revealing it had an increased $139.2 billion worth of funds under management (FUM).

By comparison, the investment management business finished the previous June quarter with $106.7 billion worth of FUM.

PDL has credited the increase to its recent acquisition of fellow US investment company Thompson, Siegel & Walmsley.

Pendal Group CEO Nick Good said September’s results were very encouraging.

“The acquisition of Thompson, Siegel & Walmsley delivered a step-change in FUM from $106.7 billion to $139.2 billion,” Mr Good said.

“There was significant volatility in client sentiment leading to re-balancing of portfolios and profit-taking, giving rise to outflows in a range of channels and strategies.

“At Pendal we are anchored by our high-conviction investment philosophy, which means we invest through the cycles to deliver superior long-term value and performance for our clients.

“The continued diversification of our business supports growth in FUM and shareholder returns.”

Pendal’s North American business segment had the most FUM at the end of September, with $63.9 billion under management.

Its Australian and EUKA segments had $35.9 billion and $28.8 billion in FUM respectively at the end of the quarter.

Following the release of the September quarter’s results, shares in Pendal Group have dipped more than 10 per cent — wiping nearly 90 cents off its share price.

Shares in PDL dipped following the release of September’s results, trading down 12.8 per cent at $6.74 each at 3:22 pm AEDT

PDL by the numbers
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