Several major asset managers have reported flat funds under management (FUM) for the March quarter.
BT Investment Management (BTIM), the fund manager 60 per cent owned by Westpac, reported a $100 million rise in FUM to $36.3 billion during the three months.
BTIM experienced $100 million of negative net flows from institutional and wholesale clients, and $200 million of negative net flows from legacy retail products, the company said.
However, market movements added $400 million to BTIM's FUM over the period.
Perpetual's FUM dropped $300 million to $29 billion in the three months to 31 March.
In March specifically, the firm experienced net outflows of $610 million from institutional clients in quantitative investment strategies and net inflows of $170 million from an institutional client in cash and enhanced cash.
Platinum Asset Management, which specialises in international equities, reported FUM of $17.62 billion as at 31 March, a gain of 3.1 per cent over the quarter.
All of Platinum's Australian dollar-based funds, except for the Platinum Asia Fund, increased in value over the quarter, led by a 9.34 per cent rise in its International Health Care Fund.
The All Ordinaries Index was unchanged during the quarter, while the MSCI World ex-Australia Index in Australian dollars added 1.05 per cent over the same period.
