Australian Ethical sees 13% growth in FUM amid strong super flows 

InvestorDaily

The firm said it saw positive flows of $211 million during the three months to 30 June, up by 54 per cent from $137 million in the previous quarter. This was divided by $200 million into superannuation and $10 million into managed funds. Australian Ethical said inflows were helped by superannuation contributions which were boosted by record voluntary contributions and an increase in the Superannuation Guarantee.

In its quarterly update to the ASX, the fund manager said net flows into managed funds were also positive after being flat in the previous quarter as a result of market uncertainty. “Despite the ongoing uncertain market and economic conditions, which affect discretionary inflows into products outside of superannuation, managed fund net flows were also positive for the quarter.” However, negative investment performance thanks to challenging market conditions in April was $106 million during the quarter.

The rest of this article can be found at investordaily.com.au.