Generation Development Group posts funds growth in Evidentia, Generation Life
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The news: Investment company Generation Development Group reported a surge in funds under management (FUM) in its Evidentia Group and Generation Life businesses in the December quarter.
The numbers: GDG's recently acquired investment manager Evidentia Group reported a 36% uptick in FUM year on year, hitting $34.5 billion at the end of the quarter.
Generation Life recorded a 35% year-on-year increase in FUM to $5.2 billion.
The context: GDG chief executive said all three of its business units, including investment research and consultancy Lonsec, benefitted from structural tailwinds across Australia's wealth, retirement and advice sectors during the quarter.
The source: ASX
