Australia's Generation Development gains on funds under management growth

Generation Development

23/10/2023 03:23

** Shares of Generation Development Group  GDG.AX  rise as
much as 5.1% to A$1.65, their highest since May 2022
    ** Life insurance manager says funds under management as of
Sept-end 21% higher at A$2.7 bln ($1.71 bln), compared to last
year
    ** Co sees strong inflows for investment bonds over the
course of FY24
    ** Stock up 26.6% YTD, as of last close
 
($1 = 1.5835 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))