Morningstar is confident that if Perpetual achieves strong fund performance, it will be able to recover its share price and reassure investors’ doubt over the Pendal merger.
Perpetual has announced a shake-up of two funds as part of a strategic review, which is understood to mean two portfolio managers will depart the business.
By Alice Uribe SYDNEY Perpetual Ltd. will make changes to its global equity capabilities, including the closure of a fund, as part of a strategic review..
Despite returning over 40% last financial year, Perpetual is terminating a six-year-old global equities fund. It will also shutter several Pendal funds in November.
Investment in artificial intelligence has become very frothy, but that doesn’t mean it’s just another tech fad like blockchain or the metaverse, veteran investors say.