Commonwealth Bank of Australia FRN PERP AUD1000 'PERLS X' (CBAPG.AX)

Australia's First Sentier Shuts $9 Billion of Funds After Growth Disappoints

(Bloomberg) -- Australian asset manager First Sentier Investors plans to shutter investment funds with a total of A$14 billion ($9 billion) in assets under management and return the money to investors, in a retreat from low-margin business lines.Most Read from BloombergRay Dalio’s Famous Trade Is Sputtering, Investors BailingTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayElon Musk’s Robotaxi Dreams Plunge Tesla Into ChaosZimbabwe’s ZiG Wipes Out 330% Stocks RallyApple’s China iPho