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.
Recommended for you
ASIC has banned a former financial adviser for his role in encouraging clients to invest their retirement money in the Global Capital Property Fund, run by United Global Capital.
With reporting season concluded for another financial year, Money Management rounds up the result of Australia’s listed advice licensees and where they are looking to in the year ahead.
Having acquired Evidentia with the goal of building out its managed accounts division, GDG has reported a 49 per cent rise in managed account funds under management in FY25.
The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted.
