Adviser demand for ‘true to label’ fixed income portfolios and Perpetual’s recent growth in assets under management has led to the company’s decision to grow its credit team, the group stated.
Perpetual recently hired assistant portfolio manager and credit analyst Thomas Choi, who will focus on cash dealing and the management of liquidity within fixed income portfolios.
Group executive, income and multi-sector, Richard Brandweiner, said the appointment would build on the credit team’s “substantial” capabilities in fixed income.
“Our Diversified Income Fund in particular is a good example of how well our style has weathered the global financial crisis,” he said. “The fund has achieved positive returns of 16 per cent over the last 12 months and its current yield-to-maturity is 8.5 per cent per annum, which is 4 per cent above the bank bill swap rate.”