Funds under management as at 30 September 2025

• Total FUM decreased 0.9% to A$29.8b
• Outflows at IMC Global offset by inflows at Pennybacker, Astarte, and Roc
• Executive director notes FUM remained stable during the quarter

Pacific Current Group Limited (ASX:PAC), a global multi-boutique asset management firm, reported total Funds under Management (FUM) managed by boutique asset managers within its portfolio decreased to A$29.8b from A$30.0b for the quarter ended 30 September 2025, a decline of 0.9%. The aggregate FUM decline was primarily driven by net outflows at IMC Global, while Pennybacker, Astarte, and Roc recorded FUM increases. Pacific Current Group's executive director and acting CEO, Michael Clarke, noted that funds under management remained stable during the quarter, with Pennybacker, Roc, and Astarte contributing to modest net FUM inflows, offsetting the outflows at IMC Global. The company cautioned against simple extrapolation of its projected results based on FUM trends, as the relationship between the boutiques' FUM and the economic benefits received by PAC can vary dramatically based on factors such as the fees charged by each boutique, PAC's ownership interest in each boutique, and the unique economic terms negotiated between PAC and each boutique.