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GDG joins ASX 200 in March quarter as growth pipeline delivers
Growth from the listed company’s key businesses has propelled Generational Development Group to new milestones in the three months to 31 March.
Generation Life’s funds under management (FUM) were $3.95 billion at the end of the March quarter, up 23 per cent on the prior corresponding period.
According to Generation Life’s chief executive, Felipe Araujo, this was the highest Q3 achieved by the company.
“This quarter also saw Generation life become #1 in the investment bonds sector, which highlights the exceptional performance achieved,” Araujo said in an announcement to the ASX on Thursday.
Notably, gross inflows were up 55 per cent over the March quarter, delivering $239 million in inflows.
Turning to the performance of parent company Generation Development Group (GDG), group CEO Grant Hackett said that all businesses contributed positively to the company’s growth in spite of continued market volatility.
In fact, according to the CEO, GDG reached the milestone of becoming an ASX 200 company over that period.
“This is a strong reflection of the sustained growth, strategic focus, and disciplined execution that have defined GDG in recent years” Hackett said.
It follows GDG announcing in February that it had acquired 100 per cent of Evidentia Group Holdings for $320 million, marking a significant expansion in the managed accounts sector. Evidentia has merged with GDG’s Lonsec Investment Solutions and Implemented Portfolios.
In its results released on Thursday, GDG confirmed that the newly combined Evidentia Group FUM increased from $25.4 billion in December to $26.8bn in March.
Lonsec Investment Solutions contributed $13.3 billion of this figure, which within itself was a 28 per cent increase on Lonsec’s FUM in the pcp. This was coupled with a whopping 325 per cent increase in net inflows of $685 million.
Following the acquisition of Evidentia, Hackett said that GDG is now the “market leader across all segments of the managed accounts sector.”
“The group remains well-positioned with a robust financial profile, strong net inflows and clear strategic momentum.”
According to the group CEO, the integration of Lonsec Investment Solutions, Implemented Portfolios and Evidentia is “progressing to plan”, with Evidentia Managed Accounts continuing to win more client mandates.
“Lonsec Research and Ratings also delivered a strong result, with revenue up materially over prior period, supported by growth in private markets, equity, and income research activity,” he added.
Key highlights for the quarter included a suite of product launches, including the Lonsec Research Logos. SuperRatings also launched a new comparison tool for super funds over the period.
Looking ahead, Hackett said that each of GDG’s approaches FY26 in strong position.
“Each of our businesses are strategically positioned to benefit from long-term industry tailwinds, and we remain focused on executing our growth agenda.”
“We look forward to building on this momentum and continuing to deliver outstanding performance in the years ahead.”
AUTHOR
Jessica Penny
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