Series departure triggers Perennial review
Perennial Investment Partners has had its international equities funds placed “on hold” by Assirt Research following news of the impending departure of portfolio manager Kerry Series.
Assirt says Series is the "key man for international equities at Perennial" and that it will maintain the hold rating until it can reassess the group's ongoing capabilities in the oversees equities asset class.
Series, who has been with Perennial since its launch 1999, will leave the group this Friday.
He will be replaced by Diane Lin, the manager of Perennial’s Japan portfolio for the past five years.
“Assirt research has previously assessed Perennial’s Japan equities capability as competent and acknowledges Diane Lin’s ability to running the Perennial Japanese Equities Fund,” the research house says.
“However, we believe her expanded responsibilities extend beyond her experience to date and we will be seeking a meeting with Perennial to assess this change.”
Series is leaving Perennial to take up a senior role with HSBC in its Hong Kong office.
His departure also has implications for Rubicon Asset Management and IOOF.
Perennial manages the Wholesale Japan Equities Trust and Wholesale Asia Equities Trust on behalf of IOOF, both of which have been placed on hold by Assirt.
Through an outsourcing agreement between Perennial and Rubicon, Series was the portfolio manager for the Rubicon Asia and global equities funds, which have also been placed on hold.
Recommended for you
High-net-worth advisers seeking to grow their businesses are likely to find alternatives to be a key part of the puzzle amid investor demand, according to Praemium’s head of private wealth.
The financial advice profession has lifted back above the 15,500 mark this week thanks to a double-digit net rise in adviser numbers, according to Wealth Data.
A closer watch on licensees that fall short on cyber security protections is among a dozen new enforcement priorities announced by the corporate regulator for 2025.
Research house Morningstar has welcomed a new director for manager research to cover Australian and New Zealand fund managers.
