Pendal Group updates on September 2022 quarter FUM status

Pendal Group Limited (ASX: PDL) has announced its funds under management (FUM) for the September quarter at AU$104.5 billion. This value was AU$111.0 billion by the end of June 2022 quarter.

During the September quarter, the Company witnessed a continuation of strong market volatility with rising energy prices and concerns about potential inflation induced recessions in major economies dominating investor sentiment.

The ongoing geopolitical uncertainty also resulted in lowering global growth expectations.

 Pendal Group highlighted that the FUM during September 2022 quarter was negatively impacted by falling asset prices and fund outflows in the US. At the same time, the falling asset prices and fund outflows in the US was counterbalanced by net inflows from the EUKA region and the stronger US dollar.

At AEDT 12:20 PM, PDL shares are trading at AU$4.955, up 5.650% on ASX. 

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