Perpetual Corporate Trust reaches record $1.4 trillion
- Corporate Trust funds under administration hit a record $1.4 trillion, including $300 billion in custody assets.
- Total assets under management dropped 5.5% to $212 billion due to net outflows and currency moves.
- Perpetual is progressing the sale of its wealth management division to Bain Capital while expanding wholesale ETF products.
Perpetual (ASX:PPT) reported a record $1.4 trillion in corporate trust funds under administration for the first quarter of FY27, despite experiencing net outflows in its asset management division.
Total assets under management fell from $224.4 billion as of June 30 to $212 billion as of Sept. 30, driven by net outflows of $9.6 billion, adverse foreign exchange shifts of $2.4 billion, and negative market movements of $0.4 billion.
"The first quarter of FY27 highlighted the importance of the complementary structure of our business, with growth in Corporate Trust offset by outflows in Asset Management, while Wealth Management remained stable as the sale process to Bain Capital progressed," said Perpetual CEO and Managing Director Bernard Reilly.
Net outflows were primarily concentrated in US and global equity strategies, particularly within Barrow Hanley's US Large Cap Value and Non-US Value offerings.
The company currently expects to complete the sale of its wealth management unit to Bain Capital in the final quarter of calendar year 2026.
Following the announcement the Perpetual share price was down at $17.03.
Perpetual is an Australian financial services company that operates across corporate trust administration, wealth management, and global asset management.
