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How Are Fund Managers And Financial Services Stocks Doing These Days – PDL, PPT, SDF, PTM, NWL, IFL

  • October 11, 2019 11:13 PM AEDT
  • Team Kalkine
How Are Fund Managers And Financial Services Stocks Doing These Days – PDL, PPT, SDF, PTM, NWL, IFL

The below-mentioned stocks reflect upon the dynamism of the fund managers and financial services sector of Australia. These stocks have come up with significant updates in recent times demonstrating good operational progress. Let’s take a look at these stocks.

Pendal Group Limited (ASX: PDL)

Pendal Group Limited (ASX: PDL) is an international investment management company engaged in providing superior investment returns through active management to their clients. The company currently stands among the major and most durable investment companies in Australia.

Strong inflows into US pooled funds

The company recently released a report mentioning the Funds Under Management (FUM) for the September 2019 quarter. The key highlights from the report are:

  • The total FUM of $100.4 billion for the September quarter, down 1% on previous quarter;
  • The outflows of $2.3 billion primarily from the European and UK OEIC funds and the Westpac book;
  • The continued strong inflows into US pooled funds;
  • The favorable foreign exchange movements of $1.2 billion.

FUM Summary (Source: Company Reports)

The addition of $1.2 billion to FUM was fueled by the mildly higher market positions and favorable movements in the currency during the quarter.

At the market close on 11th October 2019, the Company's stock was trading at a price of $6.890 with a daily volume of ~ 717,176 and a market capitalization of approximately $2.22 billion. The stock has a 52 weeks high price of $9.590 and a 52 weeks low price of $6.430 with an average volume of ~ 1,037,119. In the past six months, the company’s stock has decreased by 26.31 % and is currently trading close to its 52 weeks high price.

Perpetual Limited (ASX: PPT)

Diversified financial services company, Perpetual Limited (ASX: PPT) mainly operates three businesses, namely, Perpetual Investments, Perpetual Private and Perpetual Corporate Trust.

PPT’s Funds Under Management Announced

The company lately announced the Funds Under Management (FUM) for Q1 (ending 30th September 2019). The company’s total funds under management for Q1 were reported as $26.1 billion.

Moreover, the company’s funds under management (FUM) witnessed a decrease of $1.1 billion as compared to the previous quarter. The decrease of $1.1 billion in the FUM included $1.8 billion net outflows mainly from Australian Equities and an offset by market appreciation of $0.7 billion.

At the market close on 11th October 2019, the Company's stock was trading at a price of $ 35.240 with a daily volume of ~316,792 and a market capitalization of approximately $1.65 billion. The stock has a 52 weeks high price of $44.990 and a 52 weeks low price of $29.700 with an average volume of ~216,211.

Steadfast Group Ltd. (ASX: SDF)

Steadfast Group Ltd. (ASX: SDF) is the major general insurance broker company and underwriting agency in Australasia. The company is growing its business globally with its operations in Asia and Europe. Currently, the company has 398 general insurance brokerages with access to more than 160 products and services for its broker network.

SDF obtains a waiver from ASX

According to a recent announcement, the company was able to obtain a waiver from ASX Listing Rule 14.7, which is linked to the voting exclusions applicable to Resolution 3 to be taken into account at the Annual General Meeting. The meeting is scheduled to be held on 17th October 2019.

At the market close on 11th October 2019, the Company's stock was trading at a price of $3.380, up 1.198%, with a daily volume of ~ 1,638,835 and a market capitalization of approximately $ 2.77 billion. The stock has a 52 weeks high price of $3.890 and a 52 weeks low price of $2.490 with an average volume of ~1,957,432.

Platinum Asset Management Limited (ASX: PTM)

Platinum Asset Management Limited (ASX: PTM) is an investment management company based in Australia that focuses on offering one core investment style and delivers portfolios of globally listed companies. The company identifies the potential companies from the market, which are yet to be recognized to their full potential.

PTM FUM Increased in September

As per the recent announcement of the company, total funds under management stand at a figure of $ 24,612.68 million as at 30th September 2019. The company’s total funds under management until the month end of August 2019 stood at $ 24,401.35 million.

During the period, the company witnessed net outflows amounting to $274 million, which included $212 million as the from the Platinum Trust Funds’ outflows.

At the market close on 11th October 2019, the Company's stock was trading at a price of $ 3.980, up 0.759 %, with a daily volume of ~ 1,071,432 and a market capitalization of approximately $2.32 billion. The stock has a 52 weeks high price of $ 5.680 and a 52 weeks low price of $3.660 with an average volume of ~ 1,542,789.

Netwealth Group Limited (ASX: NWL)

Netwealth Group Limited (ASX: NWL) in Australia’s financial services and technology company. The company has made significant progress over the years in the financial services sector of Australia by providing exceptional services and autonomous research.

FUM Increased for NWL

The company recently released its quarterly business update for the quarter ending 30th September 2019. The highlights of the report are:

  • The company’s funds under management increased by 8.5% ($2.0 billion) amounting to $25.3 billion for the quarter (September 2019). The funds under management increased by 31.3% ($6.0 billion) as compared to the September 2018 quarter.
  • Net inflows for the quarter increased by $0.4 billion and amounted to $1.5 billion. The market movements further resulted in a $0.5 million increase in FUA.
  • The company was awarded the SMSF platform provider of the year.
  • The company was included in the S&P ASX200 index with effect from 23rd September 2019.

In its latest announcement, the company mentioned that its Annual General Meeting is going to held on 12th November 2019 at the Melbourne office.

At the market close on 11th October 2019, the Company's stock was trading at a price of$ 8.690, with a daily volume of ~1,027,777 and a market capitalization of approximately $2.19 billion. The stock has a 52 weeks high price of $10.110 and a 52 weeks low price of $6.350 with an average volume of ~753,968.

IOOF HOLDINGS LIMITED (ASX: IFL)

Since the foundation of IOOF Holdings Limited (ASX: IFL) in 1846, it has been assisting its customers of Australia in protecting their financial future. Over the years, the company has grown significantly in the financial services industry as one of the largest companies. The company provides services of financial advice, platform and estate administration for advisers and investment management products.

The company recently announced that it is divesting its holding in Perennial Value Management (PVM). The company has an equity interest of 52.4% in PVM as well as 42.4% voting rights and dividend entitlements. According to the CEO, Renato Mota, the company’s move of making the divestment shall enable them to focus on the company’s core capabilities of wealth management.

At the market close on 11th October 2019, the Company's stock was trading at a price of $ 6.260, up 3.642% intraday, with a daily volume of ~1,481,187 and a market capitalization of approximately $2.12 billion. The stock has a 52 weeks high price of $8.158 and a 52 weeks low price of $4.146 with an average volume of ~1,827,596.


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