Perennial executives to buy remaining IOOF stake

Perennial/IOOF/acquisition/John-Murray/Perennial-Value-Management/

11 October 2019
| By Oksana Patron |
image
image
expand image

Boutique fund manager, Perennial Value Management, has announced that its senior executives planned to acquire the remaining 42.4% interest in the business from IOOF Holdings.

Perennial’s investment products would continue to be offered through IOOF platforms as well as other leading platforms and wrap accounts.

Perennial Value’s managing director, John Murray said the move represented a further alignment of interests between its staff and clients.

“This represents a further significant alignment of interests between our staff and our clients, and is a strong vote of confidence in our continuing commitment to delivering investment excellence, fostering a specialist investment management culture, and building a successful and sustainable funds management business,” he said.

Anthony Patterson, executive director of Perennial, added: “This transaction will see the positioning of the Perennial Group as a multi boutique investment firm.

“We currently operate six boutique investment businesses, three under the Perennial brand, large cap Perennial Value, Perennial Value Smaller Companies and the Perennial Solutions Group, and three boutique affiliates Daintree Capital, an absolute return fixed income business, Fairlight Asset Management, a Global Small Mid Cap specialist and eInvest a provider of active exchange traded managed funds.”

Perennial Value is a specialist, active investment management firm and invests $5.6 billion on behalf of institutional and retail clients through a suite of trust products and discrete portfolios.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 2 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 3 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 1 day ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

1 week 6 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

2 weeks 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND