Perpetual reviews master trust manager mix
PERPETUAL is currently revamping its fund-of-fund master trust offerings and reviewing all fund managers in anticipation of launching a new manager line-up at the end of next month.
The review could result in a significant increase of the manager line-up on Perpetual’s Select Super master trust from the current eight fund managers to up to 18 fund managers.
Asset consulting group John A Nolan and Associates has been appointed to review the Select Super master trust.
It is understood Perpetual’s move to 100 per cent ownership of dealer group Wilson Dilworth, which previously ran the Select Super master trust, was the motivation behind the review.
Perpetual’s non-super master trust, the Perpetual Select Investment Fund, will also be included in the review.
Towers Perrin will review the Perpetual Select Investment Fund master trust, which was launched under prospectus in November last year.
It is not expected the changes to the Perpetual Select Investment Fund will be as dramatic as those to the Select Super master trust, considering its more recent launch date.
The Select Super master trust was launched in March 1999 and currently has $700 million funds under management. At the time it was launched, the product had just a few managers with most providing indexed exposure.
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