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Superannuation

Australian Ethical reaches milestone of $10 billion funds under management, as its growth trajectory continues apace

19 Apr 2024
From

John McMurdo

Managing Director John McMurdo said yesterday: “Australian Ethical is delighted to have achieved a significant milestone this quarter, with FUM reaching $10 billion.

“We’ve seen another quarter of positive flows due to continuing organic customer growth, increased superannuation guarantee contributions and strong investment performance.

This result points to the success of our growth strategy, which has seen us increase scale to serve the growing addressable market more effectively. We are continuing to deliver on Australian Ethical’s Theory of Change, the dual purpose of which is to help people, animals and the planet thrive, and our customers prosper through their choice of ethical investments.”

Funds under management

FUM reached $10.33 billion at 31 March 2024, up 7% from 31 December 2023, driven by positive net flows and strong investment performance.

Positive net flows

Positive net flows of $137 million were reported for the March 2024 quarter underpinned by solid superannuation net flows due to new customer growth and growing superannuation guarantee contributions.

Managed fund net flows were slightly positive, albeit impacted by continuing uncertain market and economic conditions.

Investment performance

Australian Ethical reported strong investment performance during the quarter of $531 million.

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