Perennial wins big bond mandate
By Liam Egan
PerennialInvestmentPartners has been mandated by Intech Investment Consultants to manage $300 million in its Australian fixed interest trust.
The mandate, previously held by UBS, will see Perennial manage 58.5 per cent of the $521 million Intech Australian Bonds Trust.
BT manages the remaining 41.5 per cent of the trust.
Perennial head of fixed interest Glenn Feben said the “consistent, longer-term investment results” of the Perennial Fixed Interest team had been instrumental in Perennial’s appointment.
“For the five years to February 28 this year, the Perennial Fixed Interest Composite has returned 7.49 per cent per annum, compared with the index return of 6.80 per cent per annum,” he said.
The team, one of the specialist investment boutiques within the Perennial Investment Partners Group, is responsible for $4 billion in funds under management as at February 28.
Perennial also shares an alliance with global bonds specialist Western Asset Management.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
