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Pendal Group Provides Shareholder Update on FY 2021 Full Year Results

05 Nov 2021  |  09:24:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: 2021 Profit Announcement- Shareholder Update

Pendal Group reported Statutory Net Profit After Tax (Statutory NPAT) increased by 42% to $164.7m, compared to the pcp, reflecting growth in fee revenue on increased funds under management (FUM) and favourable mark-to-market movements on the Group's seed investments. Underlying Profit After Tax (UPAT) increased during the year to $165.3m, up 25% compared to pcp. This increase reflects a substantial uplift in annuity income from base management fees, a four-fold increase in performance fees and the step-change in FUM as a result of the acquisition in July of Thompson, Siegel & Walmsley (TSW), a US-based value-oriented investment management company.

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