• Corporate Trust business delivered consistent growth
• Asset Management impacted by market volatility and net outflows
• Wealth Management business sale to Bain Capital expected to complete later in 2026

Perpetual Limited (ASX:PPT) has reported its third quarter FY26 business update, noting the resilience of its business through the ongoing market volatility. The Corporate Trust business continued to deliver consistent growth, benefiting from both existing client growth and new client wins. The Debt Markets Services division saw robust performance in the non-bank client segment, while the Managed Funds Services and Digital and Markets divisions also attracted new clients. In Asset Management, the company's Assets Under Management (AUM) were impacted by a stronger Australian dollar, declining markets, and net outflows of A$2.8 billion (or A$4.9 billion excluding cash). The J O Hambro and Barrow Hanley boutiques experienced the majority of the outflows, while the Australian boutiques continued to perform well. Perpetual also announced the sale of its Wealth Management business to Bain Capital Private Equity, LP, which is expected to complete later in the calendar year. The company reconfirmed its FY26 expense growth guidance of approximately 1% to 2%.

Perpetual reconfirms its total expense growth guidance for FY26 of approximately 1% to 2% for the year, based on an average AUD:USD of 0.66 and AUD:GBP of 0.49.