April 26, 2010
CBA funds under management fall in March
Commonwealth Bank of Australia says funds under administration and management fell in the March quarter.
CBA said on Wednesday its funds under administration at March 31 were $189 billion, down 1.7 per cent from December 31.
Net flows for the three months were negative $4.4 billion, impacted by outflows from wholesale short term cash mandates, the bank said.
Funds under management at March 31 were $145 billion, down 2.6 per cent from December 31, also due to outflows from short term cash mandates.
Property and alternate investments were also down for the quarter, due to the sale of CBA's interest in Sydney's Aurora Place in January.
- Courtesy of app
