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(Reuters) - Shares in Macquarie Group slipped more than 2% on Wednesday after the Australian investment bank flagged that its asset management division will face continued economic headwinds through the first half of 2024.
The company said its private markets' assets under management (AUM) of A$326.8 billion ($207.84 billion), as of June 30, was down 3% compared with end-March figures. Macquarie attributed the drop to the expiry of co-investors' management rights on a specific asset.
Net other...
>>> Read more: Australia's Macquarie loses most in 2 weeks on tepid asset management outlook
The company said its private markets' assets under management (AUM) of A$326.8 billion ($207.84 billion), as of June 30, was down 3% compared with end-March figures. Macquarie attributed the drop to the expiry of co-investors' management rights on a specific asset.
Net other...
>>> Read more: Australia's Macquarie loses most in 2 weeks on tepid asset management outlook
