Perpetual (ASX:PPT) logged its performance for the third quarter of FY26, despite navigating a highly volatile global economic landscape.
In its business update for the period ended March 31, the Australian financial services giant revealed a complex mix of growth in its corporate sectors and challenges within its asset management division.
A primary highlight of the quarter was the continued expansion of Perpetual’s corporate trust business.
Driven by robust performance in the securitisation market and new client acquisitions within Managed Funds Services, the division remained a pillar of stability.
Additionally, the company is progressing with the strategic divestment of its wealth management business to Bain Capital Private Equity, a move expected to finalise later this year.
Total assets under management fell by 3.6% to $219.2 billion, down from $227.5 billion in December 2025.
The decline was attributed to a "perfect storm" of factors: $3.6 billion in unfavourable currency movements due to a strengthening Australian dollar, $1.9 billion in negative market shifts, and net outflows of $2.8 billion.
Barrow Hanley, a key boutique under the Perpetual umbrella, saw its AUM slip to $85.2 billion, impacted heavily by outflows in its large cap value equity strategy.
CEO Bernard Reilly remains optimistic, noting that while global equity markets remain turbulent, the firm’s Australian boutiques continue to perform well.
At the time of reporting, Perpetual’s share price was $16.48.