Assirt approves of Perpetual succession
TheAssirtresearch house has reconfirmed its ‘Strong’ rating of Perpetual Investments’ Australian equity capabilities despite the announcement last week thatPerpetual’ssenior portfolio manager, Peter Morgan, would leave the group.
Assirt says Perpetual’s promotion of portfolio manager John Sevior to the position of head of equities in the wake of Morgan’s departure was a positive for the group.
According to Assirt, Sevior is an experienced and knowledgeable individual with a demonstrated track record in transitioning portfolios.
Sevior will take over responsibility for managing Morgan’s institutional portfolios and Perpetual’s Australian Share Fund, which was previously managed solely by Morgan.
“Perpetual has a demonstrated track record in succession planning and promotion from within the team. This approach promotes continuity in the equity investment process and consequently, the delivery of returns,” Assirt head of research Caroline Saunders says.
Last week, theMorningstarresearch group maintained Perpetual’s five star rating, whileLonsecannounced that it would continue to recommend the group’s flagship Australian equities fund, the Industrial Share Fund.
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