van Eyk return Perpetual's 'BB' rating
Research house van Eyk has reinstated the 'BB' rating awarded to Perpetual Australian Share Fund (ASF) following months of concern over team stability.
Perpetual's rating was put on hold in May following the news that head of equities John Sevior would be taking six months leave from 1 July, van Eyk stated.
Sevior's announcement occurred soon after the departure of portfolio manager John Harbot and van Eyk stated at the time that they had been concerned about the increased responsibility placed on current head of equities Matt Williams.
Following his return from overseas, van Eyk have since made a "positive assessment" of Williams' ability.
"We are of the view that he is fully engaged and motivated," said van Eyk head of ratings Matthew Olsen.
"We are not concerned that his increased responsibilities will be detrimental to his ability to manage the Australian Share Fund."
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