GDG sales hit record as FUM grows 29%

Generation Development Group (GDG) reported stronger funds under management (FUM) across its wealth business in the September quarter, led by record investment-bond sales at Generation Life despite more cautious investor and adviser activity.

Group FUM, reached $48.1 billion at 30 September 2026, up 29% on the prior corresponding period.

GDG chief executive Grant Hackett said GDG had "made a strong start to FY27," supported by its positions across investment bonds, managed accounts and investment research and governance.

Generation Life was the standout performer, with funds under management rising 33% year on year to $6.38 billion. Quarterly sales reached a record $518.4 million, up 57.1% on the September quarter last year, while net sales hit a new high of $427 million.

The result reflects adviser demand for tax effective investment solutions and greater use of investment bonds in long-term wealth and retirement planning. Generation Life captured 59% of industry investment bonds inflows over the 12 months to June 2026.

Its Lifetime annuity offering also recorded its strongest quarter since launching in 2022, with sales rising 71% year on year to $8.5 million.

Evidentia Group continued to expand its managed-account business, ending the quarter with $41.7 billion in funds under management, up 28% on the prior corresponding period. It recorded $1.54 billion in net inflows, including $74 million in net new mandates.

The business also welcomed Louise Watson as chief executive, with priorities including expanding distribution, strengthening platform capabilities and improving operational efficiency.

Meanwhile, Lonsec Research and Ratings reported sustained demand for its core research services, particularly in separately managed accounts. Its newly launched Lonsec Governance Solutions business is also exploring demand for investment oversight, with several client trials underway.

GDG acknowledged softer industry conditions and more cautious market participants, but its latest results point to growth across product manufacturing, investment implementation and research services, rather than reliance on a single business line.