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IOOF funds pass $200b despite super outflows; execs take pay cut – Sydney Morning Herald

IOOF has reported a record level of funds under management while executives trim bonuses and pay ahead of the company’s full year results and the CEO warns of greater economic uncertainty to come.

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The recent uptick in sharemarkets had been the major contributor to the increase in FUMA by $6.7 billion for the quarter, according to Mr Mota, but he warned of the ongoing financial impact of the coronavirus crisis.
The FUMA growth came despite net outflows of $93 million in the firm’s core financial advice business, $51 million in its investment management business and $183 million from the former ANZ pensions and investments business. The outflows were offset by $398 million in net inflows t…

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