Perpetual points to remuneration model
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Just days after announcing the resignation of its chief executive, David Deverall, Perpetual has provided the market with a business update reaffirming its earnings guidance but pointing to some continued uncertainty in investment markets.
In the update, released to the Australian Securities Exchange (ASX), Perpetual predicted that the ASX would trade in the 4,300 to 5,000 range for the next six to 12 months, while being influenced by a range of issues including sovereign debt, government policy and interest rates.
However, the company claimed it was well-positioned to handle the challenges not least because it held strong brand integrity with the adviser community.
Discussing its so-called key success factors, the market update suggested that Perpetual had a non-commission-based model for the new regulatory regime as well as a talented, stable and well-recognised funds management team.
The update also made reference to the company’s “talent management”, with critical roles identified and succession plans put in place.
AUTHOR
Mike Taylor
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