Australia's Pengana Capital hits near 3-year low as FUM weakens

Pengana Capital

15/06/2023 05:35

** Shares of fund management co Pengana Capital Group Ltd
 PCG.AX  fall as much as 10.8% to A$1.115, hitting their lowest
level since Aug 25, 2020
    ** Co posts funds under management (FUM) of A$3,055.8 mln
($2.08 bln), as at May 31
    ** Co reported FUM of A$3,562.2 mln in the year-ago period 
    ** Shares post their biggest intraday pct loss since March
2, 2022
    ** Stock on track to record a third consecutive session of
decline, if losses hold 
    ** Pengana stock down 22.8% YTD, as of last close 
    
     ($1 = 1.4702 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))