Australian Ethical Investment's (ASX:AEF) funds under management reached a new record high of AU$13.26 billion for the three months ended Dec. 31, 2024, up from AU$12.95 billion in the prior quarter, according to a Monday filing with the Australian bourse.

This reflects 27% growth for the financial year to date.

Retail and wholesale net flows were AU$173 million. Superannuation flows were predictably below recent quarters as the transition of Mercer to GROW led to limited service, the filing said.

Australian Ethical reported a positive investment performance of AU$190 million for the quarter, per the filing.

The investment manager's shares were down 3% in recent Monday trade.