Perpetual (ASX:PPT) reported a near 2% quarter-on-quarter decline in total assets under management as of Dec. 31, 2025, largely due to increased net outflows and unfavorable currency movements, amid mixed overall performance, according to a Thursday filing with the Australian bourse.

The financial services company reported total assets under management of AU$227.5 billion of the end of December 2025, down from AU$232 billion as of Sept. 30, 2025.

Net outflows of AU$7.8 billion and adverse currency movements of AU$2.1 billion during the period were partially offset by favorable market movements of AU$5.4 billion, as per the filing.

Corporate Trust segment scored a 2.1% rise in funds under administration to AU$1.31 trillion as of Dec. 31, 2025, while the Wealth Management division posted a flat performance in light of an ongoing sale process.

For the first half of fiscal 2026, the company projects to recognize performance fees of up to AU$10 million, primarily from its JO Hambro and Perpetual Asset Management investment strategies.

Shares rose past 2% in recent Thursday trading.