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CBA BTIM report flat FUM
February 8, 2010
Several major wealth managers have reported flat funds under management (FUM) for the December quarter, partly due to investors pulling money from cash and fixed interest funds.
Commonwealth Bank of Australia (CBA), the country's biggest lender by market value, said total FUM over the three months rose 1 per cent to $149 billion.
While the group's Australian equities FUM gained 5.5 per cent to $23 billion and global equities FUM jumped 7.6 per cent to $42.72 billion, outflows from short-term cash mandates impacted overall gains.
Original Posting At: InvestorDaily
Commonwealth Bank of Australia (CBA), the country's biggest lender by market value, said total FUM over the three months rose 1 per cent to $149 billion.
While the group's Australian equities FUM gained 5.5 per cent to $23 billion and global equities FUM jumped 7.6 per cent to $42.72 billion, outflows from short-term cash mandates impacted overall gains.
Original Posting At: InvestorDaily
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