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The Pendal (ASX:PDL) share price lifts on funds update

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The Pendal Group Ltd (ASX: PDL) share price is edging higher in morning trade, up 0.5%.

We take a look at the S&P/ASX 200 Index (ASX: XJO) listed global investment manager’s latest quarterly funds under management (FUM) update below.

What did Pendal report on its FUM?

The Pendal share price is edging higher after the company revealed its FUM increased by 4.4% during the March quarter. Pendal’s FUM rose by $4.3 billion to reach $101.7 billion.

According to the release, net inflows for the quarter were $900 million. There was also a $900 million boost from currency movements with the Aussie dollar falling against a basket of key currencies during the 3-month period. Pendal said that strong investment performance and higher…



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