Perpetual’s shares jumped notably, marking a near one-month high, following an increase in Q1 Assets Under Management (AUM).

The shares gained as much as 2.7% reaching a value of A$21.330 - their best performance since September 14.

Perpetual was also topped the chart as the best performer on the ASX 200 index and reached its peak level of September 19.

The company was trading at A$21.255 as of 0233 GMT and was poised for its highest closing level since September 6, if the trend remained.

Perpetual’s average for September quarter AUM was A$215.6 bln, up from A$211.2 bln from the preceding quarter.

However, the total Assets under Management (AUM) at the end of September were down compared to the June quarter level.

The company reiterated its FY24 total expense growth forecast, which includes a full year of Pendal’s expenses.

It noted sustained frailty in the Australian dollar and how it augmented offshore revenues, but simultaneously increased international expenses.

Despite the apparent surge, Perpetual shares have seen depreciation of about 14% this year, as of last close.

Perpetual is a global investment management firm specializing in wealth management and other financial services.