Perpetual expands global equities team
Independent financial services group, Perpetual Investments has signalled its intent to expand its global equities strategy, with the addition of Tim Cheung and Abbey Cook to its team.
Both Cheung and Cook are experienced global value investors and will join the team during the next six weeks to expand Perpetual's stock analysis across global companies.
Perpetual Investments head of equities, Paul Skamvougeras, said the appointments reflect the company's firm commitment to growing its global equities offering.
"Strengthening the team through the appointment of talented individuals such as Tim and Abbey is an important part of that growth strategy," he said.
"We have ambitious growth targets based on our proven capability and we are strong believers that the weight of money in the Australian superannuation system means allocation to global will continue to increase."
With 11 years of equities experience in Australia, Cheung joins from Morphic Asset Management where he was previously the head of research and principal.
Meanwhile, Cook has been based in the US for past two years at Balmoral Consulting and has worked closely with Perpetual facilitating introductions and building relationships with American companies.
Skamvougeras said the appointments will help bolster Perpetual's global equities team, who share the same "proven investment philosophy" as the Australian equities team.
"To meet these targets we need to have the right people in the team to deliver on our goals, and with global equities portfolio manager, Garry Laurence leading a strong team, we believe we are well-placed to make that happen," he said.
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
