Perennial in, Perpetual out at Russell
TheFrankRussellgroup has droppedPerpetualInvestment Management as a manager within the Russell Australian Shares Fund, withPerennialValue Management set to join the fund in its place.
Perennial will manage a value-oriented Australian shares mandate, and rank companies using a value model based mainly on traditional valuation factors.
“Perennial has a strong investment team, led by John Murray who has over 15 years of experience in investment management. It has a ‘bottom-up’ approach to investment, based on in-depth fundamental analysis of companies,” Frank Russell Australasian managing director Alan Schoenheimer says.
Perennial will manage 22.5 per cent of the multi-manager fund. Other managers on the list include Macquarie, Contango and Alliance, all of whom will manage about 20 per cent of the fund.
At the end of September this year, the Russell Australian Shares Fund had outperformed the S&P/ASX 300 index by 2.1 per cent per annum over four years.
Recommended for you
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
Australian licensees are expected to make greater use of custom model portfolios for their clients, according to State Street Investment Management, following in the footsteps of US peers.
Adviser Ratings has argued that it’s time for more advisers to utilise digital engagement tools available to them as a disconnect grows between consumers seeking advice from finfluencers and from professionals.
