Perpetual reviews master trust manager mix
PERPETUAL is currently revamping its fund-of-fund master trust offerings and reviewing all fund managers in anticipation of launching a new manager line-up at the end of next month.
The review could result in a significant increase of the manager line-up on Perpetual’s Select Super master trust from the current eight fund managers to up to 18 fund managers.
Asset consulting group John A Nolan and Associates has been appointed to review the Select Super master trust.
It is understood Perpetual’s move to 100 per cent ownership of dealer group Wilson Dilworth, which previously ran the Select Super master trust, was the motivation behind the review.
Perpetual’s non-super master trust, the Perpetual Select Investment Fund, will also be included in the review.
Towers Perrin will review the Perpetual Select Investment Fund master trust, which was launched under prospectus in November last year.
It is not expected the changes to the Perpetual Select Investment Fund will be as dramatic as those to the Select Super master trust, considering its more recent launch date.
The Select Super master trust was launched in March 1999 and currently has $700 million funds under management. At the time it was launched, the product had just a few managers with most providing indexed exposure.
Recommended for you
Half a year after Count Financial told its advisers to exit several Metrics Credit Partners funds, research house Lonsec has now downgraded two of these products over governance concerns.
Having divested its financial advice business to Fortnum Private Wealth, Australian Unity has shared further details on how it is transforming the wealth arm of the business to focus on investment bonds.
With candidate retention a concern after a professional year, two large licensees have shared how they are structuring their programs to successfully ensure candidates are keen to remain beyond the year.
Evidentia Private has appointed PIMCO’s Haydn Scott as principal for private wealth solutions, focusing on asset consulting and private markets.
