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
As larger Australian Financial Services licensees continue to expand their reach in an increasingly expensive industry to operate, how do smaller firms ensure they stay relevant and efficient?
HUB24 has added almost 600 advisers in the 2025 financial year as the platform capitalises on opportunities presented in wealth management.
Wealth Architects has acquired a Cairns-based advice practice as it seeks to expand its national advice presence.
While the overall gender wage gap has decreased slightly, the Financy Women’s Index reveals the gap has widened for employees in the financial and insurance services sector.
