Perpetualsenior portfolio manager Peter Morgan will leave the group at the end of next month with John Sevior to take on the role of head of equities as of today.
Morgan has been with Perpetual since 1990 and has most recently, along with Sevior who was also a senior portfolio manager, worked on the group’s flagship Australian equities product, the Perpetual Industrial Share Fund.
The fund has $5.2 billion in assets and in August this year a third portfolio manager – Matt Williams, who co-manages Perpetual’s Smaller Companies Fund – and Perpetual’s team of equity analysts also became involved in the management of the Industrial Share Fund.
At the time Sevior took responsibility for 50 per cent of the fund, while Morgan’s management dropped to 40 per cent. Sevior has been involved with the Industrial Share Fund for the past four years and has also worked with the group’s institutional mandates, including its Concentrated Equity Fund over the past three years.
Morgan has not yet revealed his long-term plans but would take an extended break in the immediate future to spend more time with family.
He says he made the break with Perpetual after being with the group for 12 years and remains confident in Sevior and Williams stating they are “one of the strongest equity teams in Australia”.
“The two people I most respect in equities management are John Sevior and Matt Williams. I have full confidence in them, and they will be managing my superannuation,” Morgan says.
