Australia's Generation Development hits near 4-yr high on FUM growth

Generation Development

17/01/2022 01:58

** Shares of Generation Development Group Ltd  GDG.AX  rise
as much as 5% to A$1.47, their highest since Feb 2018 
    ** Development fund operator says its Funds Under Management
(FUM) at Dec 2021 was at A$2,142 mln ($1.54 bln), an increase of
44% from previous corresponding period  urn:newsml:reuters.com:*:nFWN2TV060
    ** Says FUM growth from Sept 2021 to Dec 2021 was A$187 mln 
    ** Stock posts its biggest intraday pct gain since Dec 24
last year 
    ** As of last close, stock is down 2.8% this year

($1 = 1.3895 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))