Perpetual

Perpetual has turned to the “experienced business builder” and former CEO of the circa $300 billion Australian Retirement Trust to set it on a new course as it lops off business units and doubles down on asset management.

Just two years after selecting State Street as its custodian, Perpetual is deciding whether to take its business elsewhere in the wake of its acquisition of global fund manager Pendal.

More damage is done by consensus longs than short reports that shake company valuations according to Perpetual’s Anthony Aboud, who argues that investors stuck in underperforming stocks would have preferred a second opinion when they bought it.

Scale is a double-edged sword but fund managers with the right model can make it work. And while other super funds are internalising as fast as they can, Aware Super will never completely abandon outsourced management.

Big and traditional managers are encroaching further on the space of alternative managers, gauging by winners and finalists at the sector’s annual awards on Friday night. The Australian Alternative Investment Awards, held in conjunction with the Hedge Funds Rock charity night at the Sydney Hilton, December 10, represented a welcome live, and lively, event for…

Perpetual Asset Management Australia won three categories in last Friday’s annual Zenith Partners awards, including the top ‘Fund Manager of the Year’. In the other major categories, Fidante Partners picked up the ‘Distributor of the Year’ and Eiger Capital the ‘Rising Star’ award. ClearBridge Investments effectively received two awards, that for ‘Infrastructure’, while the firm’s…