Client caution drives Pendal fund redemptions
Pendal Group’s funds under management have fallen by $13.9 billion in the June quarter due to fund redemptions driven by client caution and sustained market challenges.
Source: moneymanagement.com.au
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Perpetual bid for Pendal: Asset managers turn to mergers to deliver for shareholders
A proposed joining of two of Australia’s most storied fund managers has exposed how delicate these once lucrative businesses are.
Source: afr.com