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Generation Development Group Posts 36% Growth in June Quarter Funds Under Management; Shares Up 33%

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Generation Development Group (ASX:GDG) recorded funds under management (FUM) of AU$46.4 billion at the end of the June quarter, up 36% year on year, according to a Thursday Australian bourse filing.

Evidentia's FUM climbed 37% year on year to AU$40.5 billion at June 30, while Generation Life's FUM rose 35% to AU$5.95 billion over the same period.

Evidentia reported quarterly net inflows of AU$3.5 billion, including the AU$1.8 billion transition of the Xplore Wealth portfolio and an additional AU$280 million mandate, while Generation Life recorded quarterly sales inflows of AU$442 million, up 39% year on year.

Lonsec Research and Ratings expanded its product coverage to more than 2,000 researched products, up 9% year on year, while iRate subscribers increased 13% year on year to 5,629.

The company's shares jumped around 33% in recent Thursday trade.

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