Perpetual Group (PPT) Q2 2026 TU earnings summary

Executive summary

• Mixed performance across divisions: Corporate Trust grew, Asset Management saw net outflows, and Wealth Management remained stable amid ongoing sale discussions.

• New product launches in Australian Asset Management attracted positive flows, while international boutiques faced outflows and mandate losses.

Financial highlights

• Total Assets Under Management (AUM) at 31 December 2025 was A$227.5 billion, down 1.9% from A$232.0 billion at 30 September 2025.

• Net outflows totaled A$7.8 billion (A$6.6 billion excluding cash), with unfavorable currency movements of A$2.1 billion, partially offset by positive market movements of A$5.4 billion.

• Performance fees of A$10 million expected for 1H26, mainly from J O Hambro and Perpetual Asset Management.

Outlook and guidance

• Expense growth for FY26 is tracking positively against guidance of 2% to 3%; 1H26 expense growth will be lower than full-year guidance.

• No impairments expected for 1H26; significant items (post-tax) anticipated between A$54 million and A$63 million.

• Further update on Wealth Management sale expected with half-year results in February 2026.