Positive ratings for Perpetual LIC
Perpetual Investments’ first listed investment company has received a positive reception from key ratings houses.
The company announced this week that the Perpetual Equity Investment Company Limited had received “recommended” ratings from both Lonsec and Zenith.
The company said Lonsec had identified Perpetual’s “long-standing investment philosophy and process” as “one of the key strengths of this offering”, while the Zenith assessment had referenced “a high level of confidence in Perpetual’s investment process”.
Perpetual announced the launch of the new product earlier this month saying the PIC offered its own diversified portfolio through investment in Australian listed securities with typically a mid-cap focus, as well as up to 25 per cent of the portfolio’s net asset value in opportunistic allocation to global listed securities.
The company said the benefits of the product were likely to prove attractive to the Self-Managed Superannuation Funds (SMSF) market.
The product’s offer period is open until 28 November 2014 with a minimum raising target of $150 million.
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