GDG reaps benefits of Evidentia acquisition | Australian Markets

Generation Development Group (GDG) has used its March quarter replace to the Australian Securities Exchange (ASX) to do a victory lap based mostly on its acquisition of Evidentia Group and a 325% increase in web inflows.

The company stated that following its acquisition of Evidentia is is now the market chief throughout all segments of the managed accounts sector.

“The newly combined Evidentia Group funds under management (FUM) increased from $25.4 billion in December to $26.8 billion in March, with Lonsec Investment Solutions Contributing $13.3 billion in FUM – up 28% on the previous corresponding period and net inflows of $685 million, representing a year-on-year increase of over 325%,” it stated.

The announcement stated that Generation Life had additional strengthened its management within the investment bonds market, reaching $3.95 billion in funds beneath management, up 23% on the prior corresponding period with inflows up 55% to a quarterly report of $230 million.

The ASX announcement quoted Evidentia Group chief govt, Michael Wright saying GDG had solidified its place “because the undisputed market chief in each class of the fast-growing managed accounts market.

His commentary additionally stated that for the reason that GDG acquisition of Evidentia, the mixed group had gained a quantity of new purchasers.

Lonsec Research and Ratings chief govt, Lorraine Robinson famous that the growth of non-public markets merchandise had underpinned growth within the business.

However, she famous that there had additionally been a quantity of new funds throughout actual property, equities and income.

The replace stated that bringing collectively the Lonsec Research and TremendousRatings companies into Lonsec Resarch and Ratings would create a robust centre of analysis excellence.