Perennial bolsters growth investment team
Perennial Investment Partnershas boosted its subsidiary funds management arm — Perennial Growth Management — with the appointment of a senior executive in anticipation of a spurt in investor demand for boutique growth-styled investing.
Former Contango Asset Management senior investment manager Richard Macdougall, who has over 20 years experience as an analyst and portfolio manager in Australia, New Zealand and the UK, will join the group as a partner at the end of the month.
In addition to focussing on general growth stocks, Macdougall, who will be based in Melbourne with the rest of the Growth team, will also assume responsibility for Perennial Growth’s socially responsible investment portfolios.
“Richard’s global experience adds further depth to the team’s stock picking ability and original research,” Perennial Growth head Lee Mickelburough says.
Perennial Growth Management, which adopts a moderate growth investment style and has over $300 million in funds under management (FUM), is one of business units under the Perennial Investment Partners brand.
The other divisions are Perennial Value ($4 billion FUM), Perennial Fixed Interest ($2 billion), and Perennial International Equities ($150 million) and Perennial Asian Equities ($40 million).
Through its three-stage lifecycle valuation approach (LVA), the manager seeks to identify and correctly value companies that can build businesses profitably, with the LVA allowing it to more realistically assess a company’s longer-term earnings potential.
The Perennial Growth Shares Trust returned 23.2 per cent for the year ending April 30 2004, beating theS&P/ASX300 Accumulation Index’s return of 18.2 per cent.
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