Perpetual fund 'on hold', manager on six-month leave
Research house Standard and Poor’s Fund Services (S&P) has given an ‘on hold’ rating to the Perpetual Wholesale Concentrated Equity Fund, following the announcement that portfolio manager and head of equities, John Sevior (pictured), plans to take a six-month leave of absence from the beginning of July.
S&P stated the fund would remain ‘on hold’ until the analysts have had the opportunity to meet with Sevior’s replacements within the next week.
In Sevior’s absence, the fund would be managed by Paul Skamvougeras, who is also portfolio manager for the Perpetual Share Plus long-short Australian equity fund.
Portfolio manager Matt Williams will act as head of equities, with support from portfolio manager Charlie Lanchester.
Perpetual stated it expected Sevior to resume his former responsibilities upon his return in 2012.
Ratings of other Perpetual funds are currently unaffected, S&P noted.
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