Perpetual (ASX:PPT) has released its second-quarter business update for FY26, revealing a complex performance landscape across its global divisions.
Total assets under management fell 1.9% to $227.5 billion, primarily driven by net outflows of $7.8 billion and unfavorable currency fluctuations, which overshadowed $5.4 billion in positive market gains.
The downturn was most visible in the international boutiques.
Barrow Hanley saw a $3.3 billion decline due to mandate losses in global equities, while TSW and Trillium also reported elevated outflows.
The Australian asset management division showed resilience; the new Perpetual Diversified Income Active ETF and the Perpetual Credit Income Trust attracted fresh capital.
A bright spot for the group was the corporate trust division, where funds under administration grew 2.1% to $1.31 trillion, bolstered by strong demand in residential mortgage-backed securities.