Page 39 - Pendal Group News Today

Pendal Group saw net outflows of $6.8 billion in the December quarter, disappointing its chief executive, Nick Good.

Australian shares open down; Afterpay -7.2pc; City Chic inventory higher; Michael Hill profit upgrade; Virtus Health updates elective surgery restrictions; Pendal FUM falls; VGI no material fees.

ASX-listed fund manager Pendal Group’s shares lost 16 per cent in Friday’s trading, as mandate redemptions from its British institutional clients dragged down its funds under management.

Pendal Group has endured a disappointing quarter, with $5 billion in outflows from UK institutional clients.

CANBERA (dpa-AFX) - Stock markets in Asia yielded to the panic of an imminent interest rate hike scenario and recorded major losses. The interest rate hike by the Bank of Korea and the hawkish

Australian shares finished their worst week since November on Friday, with tech stocks bearing the brunt of the sell-off, while consumer stocks also took a hit.

The firm suffered a decline in funds management during the last quarter.   Pendal Group has reported outflows of $6.8 billion for the December quarter with total funds under management falling $3.5

Australian shares bounced on Wednesday, with energy and technology sectors leading gains on expectations omicron would not derail the economic recovery.

Morningstar analysts see value in several stocks under fire from shorts.

Australian shares are poised to open higher, with sentiment buoyed by the US central bank’s inflation pivot. Oil, gold and iron ore higher.