Perpetual posted net profit of $14.192 million in the six months to December 31, compared to $87.6 million in the previous corresponding period.
Operating profit fell 48 per cent to $41.6 million while revenue was $194.7 million, down 25 per cent.
Perpetual declared an interim dividend of 40 cents, representing about 20 per cent of net profit.
Perpetual chairman Robert Savage said in a statement that the funds manager's "operating environment continues to be shaped by the almost unprecedented global economic and financial market turmoil.
"While Australia's economy has proved more resilient than most in the current crisis, expectations are that it will slow substantially during 2009,'' Mr Savage said.
"While we do not realistically believe the market will rebound to its previous high in the short to medium-term, we continue to look for signs of market recovery but remain cautious in our outlook for the second half of the 2009 financial year,'' he said.
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