Generation Development Group funds reach $48.1B
- Generation Development Group reported a 29% increase in funds under management to $48.1 billion for the quarter ended Sept. 30.
- The financial expansion was led by Generation Life record inflows of $6.38 billion.
- The business plans to extend capabilities in investment governance to capture growing market demand.
Generation Development Group (ASX:GDG) increased its funds under management by 29% to $48.1 billion for the quarter ended Sept. 30.
The growth compares to the previous corresponding period, despite softer industry conditions and more cautious investor activity.
The company highlighted that Generation Life delivered gross sales inflows up 57% on the previous corresponding period.
In addition, Evidentia Group generated $41.7 billion in funds under management, representing a 28% increase.
The group stated that its strategic focus remains on expanding investment governance services while maintaining disciplined execution across all wealth platform divisions.
Following the announcement, the Generation Development Group share price was down at $3.10.
Lonsec Research and Ratings saw sustained demand across its core offerings and researched 2,055 products, representing a 10% increase.
The business continues to execute its integration strategy across Generation Life, Evidentia, and Lonsec to strengthen its position in managed accounts and investment bonds.
