Australian Ethical increased funds under management (FUM) by 12.9% to $4.05 billion for the quarter ended 30 June 2020, up from $3.59 billion as at 31 March 2020. This increase was driven by positive net flows and strong investment performance and includes outflows of $0.04 billion following the Federal Government’s changes to early release of superannuation conditions.
Despite challenging market conditions, Australian Ethical achieved record net inflows of $0.66 billion over the financial year to 30 June 2020 which drove an 18.6% increase in FUM to $4.05 billion, up from $3.42 billion as at 30 June 2019.
Over the financial year to 30 June 2020 Australian Ethical gained over 14,000 new clients across Super and Managed Funds; ending the year with over 57,000 clients (managed fund investors and funded super members) a 19.7% increase over 30 June 2019.
AEF Price at posting:
$6.27 Sentiment: Buy Disclosure: Held
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