Assirt says Perpetual is sticking with plan
Assirthas released the findings of its six-monthly review ofPerpetual Investments, this time including the rating of two new sectors — the Alpha Quant Shares and Australian Shares - Ethical SRI.
Assirt has made no change to existing ratings for Perpetual. The Alpha Quant Shares sector has been rated as strong. The Australian Shares Ethical SRI sector has been rated competent. Perpetual’s funds under management have continued to grow steadily, according to Assirt, reaching the $19 billion mark as at March 2002.
“Assirt is pleased to see Perpetual’s growing funds under management and new product offerings are progressing in line with [Perpetual’s] strategic business plan and growth strategy,” Assirt investment analyst Tania South says.
The appointment of Vasant Khilnani as head of research at Perpetual, is viewed by Assirt as favourable for the manager, assisting its continued development of its domestic equities process. Khilnani has been a long-time consultant to the fund manager, driving a number of process improvements in equities as well as the design and implementation of the tactical asset allocation model.
The release of the Alpha Quant Shares sector is the result of more than two years work, the sector has been produced by the Quantitative Investments division of Perpetual, established in February 2000, together with the global services of risk management house Barra. The model-based quantitative Australian equity products are available through Perpetual's superannuation, allocated pension and wholesale product offerings.
Perpetual’s steady approach in the development of the Alpha Quant shares sector, according to South, is a reflection on the manager’s overall approach to doing business. “They don’t rush things” and focus on producing returns for their investors, she says.
Also reflective of Perpetual’s adherence to its corporate values of putting its investors interests first, was the manager’s decision to close its Wholesale Smaller Companies Fund and the PST Smaller Companies Share Investment Option to new investments from September 30, 2002.
Business management is rated very strong and operating capability is rated strong.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
