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Snapshot Articles

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ALL Snapshot articles are listed below.

Date: Thu, 12 Jul 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: There were some important developments overnight, but major markets were fairly tame trading between +0.5%. Spain came out and announced €65 billion of tax rises and spending cuts as part of a deal to secure the €100 billion bank bailout package with the European Commission. This included cuts to unemployment benefits and public service salaries, and increases in sales taxes.

Date: Mon, 09 Jul 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Well markets were under a tri-angulation of fire on Friday night and sharemarkets, cyclical currencies and commodity prices were all down. Initially, it was reported that the European Summit agreement will not be enforceable until late-2013, rather than late-2012 given all the legislative changes required. In addition, governments will be forced to issue guarantees before any bailout funds are provided to regional banks. This soured investor sentiment as the original plan was to break the link between government and bank funding stress, but unless loans are guaranteed, why would a country like Italy (who has more debt than any other country in Europe) raise E20 billion at 6% and lend it to a bank, get 0% (as stressed banks will not be making dividend payments) and wear potential credit risk?

Date: Tue, 03 Jul 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: The Australian listed property sector was one of the most heavily sold sectors during the global financial crisis, due to highly leveraged balance sheets and falling asset values. Since then, these companies have restructured their debt and simplified their business models, and this has progressively opened up some investment opportunities.

Date: Mon, 02 Jul 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: As we approach the 43rd anniversary of the moon-walk, we are reminded of all of the small steps that, through time, culminated in probably mankind's biggest achievement for the twentieth century. The US did not just design a rocket and decide to go; there were six Mercury program missions, 10 Gemini program missions and 11 Apollo missions, which lay the foundation for the events in July 1969.

Date: Fri, 29 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Markets are short-term focused at present with sentiment swinging on a daily basis between bargain hunting and pessimism.

Date: Thu, 28 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: The domestic bond market is almost twice as large as the market capitalisation of Australia’s listed equity market. In addition to the protection bonds offer investors by virtue of their preferred position in a company’s capital structure, fixed income investments also offer investors a valuable source of portfolio diversification, typically having a low correlation to equities, being lower in risk and offering more predictable returns.

Date: Fri, 22 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: The dramatic changes over recent decades in most people’s lifecycle of work, marriage, family formation and retirement, have created huge challenges for people trying to plan for the future, and their financial advisers.

Date: Wed, 20 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Following the global financial crisis and the failure of Lehman Brothers, there was an increase in the scrutiny of financial institutions and the introduction of more stringent regulations on the sector.

Date: Tue, 19 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: We’ve held STW Communications in our portfolios for a number of years, but recently it’s become one of my favourite stocks because it has a number of the key characteristics I look for.

Date: Mon, 18 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: On the day when East Germans voted against government-enforced austerity 49 years ago, the Greek election was run and the pro-austerity New Democracy party (ND - which attracted just 29.9% of the vote, which is 88% complete) is poised to be invited to form a coalition government by the Greek President. World leaders, financial markets and European authorities all breathed a collective sigh of relief with the result, with the anti-austerity left leaning Syriza party (26.7%) coming in second. In a strange twist the total of the anti-bailout parties (46.2%) was higher than the pro-bailout parties (41.8%), but the largest party (the ND) is awarded 50 extra seats under Greek rules for having more votes than anyone else (that, apparently, is democracy for you).

Date: Fri, 15 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Global sharemarkets have been progressively declining (down between 3% and 10%) since the start of May 2012 in preparation for the second Greek election this weekend.

Date: Tue, 12 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: With Europe struggling to bring its government and bank solvency crisis under control, the yields on Italian and Spanish bonds have soared to dangerous levels, while those of supposedly safe-haven countries, the US, Germany, Japan, have rallied to record lows.

Date: Fri, 08 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Sovereign bonds represent a loan made to a national government, typically denominated in that country’s currency. Traditionally, they were considered risk free, as sovereigns could either print money or raise taxes to repay their debt when it fell due. In the case of countries in the European Union with a common currency, individual countries can’t unilaterally print currency to repay debt. Concerns surrounding the credit quality of some sovereigns, such as Italy and Spain, have seen yields on their government debt soar.

Date: Thu, 07 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: One of the most important aspects of our investment philosophy at Perpetual is that we don’t just ‘move with the pack’ and invest in stocks that are in the index, or that other investors like. We conduct rigorous analysis on stocks and draw our own conclusions about whether they’re worth holding in our portfolios or not. A good example of this is Insurance Australia Group (IAG)...

Date: Tue, 05 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: People aged 50 and over have up until 30 June this year to boost their super with up to $50,000 in concessional (pre-tax) or deductible contributions.

Date: Mon, 04 Jun 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Although some investors may feel there are some similarities between 2008 and 2012, there are some important differences.

Date: Thu, 31 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Market commentators love their abbreviations. At the moment Grexit (or Greek exit) is a hot topic in Europe, but the main game for investors may be Spanic (or Spain panic).

Date: Thu, 31 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: As a result of the financial market turmoil of recent years, many investors have been searching for ways to diversify their returns and help insulate their portfolio in times of market stress, such as now.

Date: Tue, 29 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: It was a very choppy session in European sharemarkets over the weekend, but a rock solid win by Collingwood. The sharemarkets opened strongly on the back of value-hunting, with the German Dax up 1.2% at its peak. Then the periphery came in to spoil the party with a three trick play.

Date: Mon, 28 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Many commentators are expecting the sharemarket to be volatile over the next couple of months, so Charlie Lanchester and I have positioned the Perpetual Industrial Share Fund to find yield and take advantage of any market upturn.

Date: Fri, 25 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Recently I spent some time in the US, visiting companies and meeting with their management. I did this to gain first-hand knowledge of how some of my favourite Australian companies are competing and succeeding over there, and to gain further understanding of the strength of the US consumer.

Date: Wed, 23 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: There’s been a lot of comment lately about the appropriate allocation to bonds in superannuation and retirement pension portfolios. However, even those commentators who have suggested that investors need to increase their strategic weighting to bonds over the long term have expressed concern that now might not be such a great time to do it. But what many clients don’t understand is that there are bonds and there are bonds, carrying very different kinds of risk – credit risk and duration (interest rate) risk.

Date: Tue, 22 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: ResMed is an industrial stock which is a global leader in the development of medical products for the diagnosis, treatment and management of respiratory disorders, most notably sleep apnea.

Date: Mon, 21 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: European troubles have resurfaced and the question now is whether Greece will leave the Euro or be kicked out. Matt Sherwood, Perpetual’s Head of Investment Market Research proposes a solution.

Date: Fri, 18 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: Oil Search is an oil and gas exploration and development company that operates all of Papua New Guinea’s (PNG’s) productive oil and gas fields. There are a number of reasons why I like the stock.

Date: Wed, 16 May 2012
Target Audience: Adviser,Investor
Archived: no

Introduction: G8 Education Limited is the only child care centre operator listed in Australia (ASX code: GEM) and there are a number of reasons why I like the stock.

Date: Tue, 15 May 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: During March 2012 members of Perpetual’s Multi Manager Investment Team travelled through China. The focus was on private market investments. In Hong Kong and Mainland China we visited a broad spectrum of private market fund managers, visited the outposts of our developed market private equity managers, toured commercial and residential property developments and, visited local subsidiaries of some western owned and listed companies.

Date: Thu, 24 May 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: High volatility in an investor’s portfolio can not only make for a more stressful life and sometimes lead to irrational decision making, it can actually cause real damage to an investor’s investment balance.

Date: Mon, 14 May 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: What did the 2012 federal budget mean for fixed income investors?

Date: Fri, 11 May 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Perpetual today released its second annual Responsible Investment Report on Progress. Find out how we're tracking.

Date: Mon, 07 May 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Economic data and election results over the weekend have sparked a new round of concerns for global investors.

Date: Fri, 04 May 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Recently there’s been a lot of bad press about News Corp and the phone-hacking scandal that’s embroiled its UK newspapers. However despite this, we continue to favour the stock as the UK newspapers represent only a fraction of its overall business.

Date: Tue, 01 May 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: The Reserve Bank of Australia (RBA) lowered its target cash rate by 0.5% to 3.75% today, which represented its first reduction in four meetings and the third reduction in its current easing cycle (which began in November 2011).

Date: Fri, 27 Apr 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Royal Wolf is a provider of portable container solutions to the resources, construction and manufacturing industries in Australia and New Zealand. It came to our attention in May last year when General Finance Corporation floated just under half the company on the Australian Securities Exchange.

Date: Thu, 26 Apr 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Standard & Poor’s recently released their 2011 Annual Global Default Study and Ratings Transitions Report. Find out what we think the results suggest for investors.

Date: Wed, 18 Apr 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: In the current investment environment, Australian investors are seeking high levels of consistent income. This pursuit for return on capital is evident from investors taking up almost $5 billion worth of corporate bonds and hybrid securities in the first quarter of the year.

Date: Tue, 17 Apr 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: There is a lot of debate within the property investment community about whether the party is over for retail property. Anecdotal evidence of the number of empty shops on your local shopping strip will definitely support this view.

Date: Wed, 11 Apr 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Global investor sentiment improved significantly in the new year as closure of the European Greek solution, combined with a massive liquidity injection from the European Central Bank (ECB) and signs of improvement in the US economy, prompted an extended period of ‘risk on’ in markets. However, more recently the continued disappointing European economic data combined with an end to the ECB’s liquidity injections (and the US Federal Reserve’s announcement that its often cited QEIII program had been suspended) saw the market’s four month rally peter-out fairly quickly.

Date: Thu, 05 Apr 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: The share price of small electrical goods supplier, Breville, has made a stellar climb since the start of the year, especially since it issued an earnings update at the end of January. In February, it reported a strong H1 FY2011 net-profit-after-tax increase of 41%.

Date: Tue, 27 Mar 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: BHP Billiton’s recent 1H12 underlying earnings result was in line with consensus forecasts. However, we hold an underweight position in the stock because it’s trading in line with its net present value and has plans for $20bn per annum worth of capital expenditure over the next three years, which is expected to deliver lower than its current weighted-average-cost-of-capital returns.

Date: Fri, 16 Mar 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: There was quite a sharp market reaction to Chinese trade data this week. On Monday, China recorded its first trade deficit in 22 years. While this is a significant development, it is not so bad that it signals a major slowing underway in China.

Date: Thu, 15 Mar 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Should there be some political pressure applied to the RBA to lower interest rates and reduce pressure on the Australian dollar?

Date: Fri, 09 Mar 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Could this really be the beginning of the end for the Greek debt problem that has plagued financial markets for the past three years?

Date: Mon, 05 Mar 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: This week's economic data in Australia has confirmed what Australia's company reporting season has been telling us; there is only modest growth momentum in both the economy and earnings at present.

Date: Fri, 02 Mar 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Over the past few weeks I’ve met with quite a few CEOs and CFOs who have described their operating environment as ‘challenging’. This has particularly been the case for companies in the Retail, Media and Building Materials sectors. However, even in those sectors ‘doing it tough’, there are some companies that are doing well.

Date: Mon, 27 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Environmental, social and corporate governance (ESG) risks can have a more dramatic impact on stocks in the resources sector than in other sectors. However, despite high profile environmental disasters, like the Ok Tedi mine in Papua New Guinea or the oil spill in the Gulf of Mexico, a broad range of ESG risks can have less publicised, but material implications for long term company performance.

Date: Thu, 23 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Since Australia’s major banks started issuing covered bonds in recent months the domestic securitisation market has remained largely dormant. The generous margin offered by CBA of +175bps over the benchmark swap/BBSW in their inaugural domestic covered bond issue, resulted in a significant repricing of both the senior unsecured and securitised debt markets.

Date: Wed, 22 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: In what has so far been a fairly lacklustre reporting season, one highlight has been the profit result of Treasury Wine Estates. Over the first half of the financial year, the company achieved EBIT (earnings before interest and tax) growth of 18%, on a constant currency basis and its profits from sales into Asia were up 67%.

Date: Fri, 17 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Australia is in its third year of earnings recovery post the GFC and while Australian stocks remain well-capitalised on the whole, local economic data, along with the strong Australian dollar and continued Eurozone uncertainty, are likely to culminate in low single-digit earnings growth throughout FY12.

Date: Thu, 16 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: The RBA has kept its Cash Target Rate at 4.25%. Despite this, banks have increased their lending rates to partially reflect the elevated funding costs they are incurring. Is there any good news in this story?

Date: Mon, 13 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Product focused terminology: RI screening, negative screens, positive screens and the best of sector.

Date: Fri, 10 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: There is an old Latin phrase, 'timeo danaos et dona ferentes', meaning 'beware of Greeks bearing gifts' which had its origin in the tale of the Trojan Horse. Today, there may be a new saying 'beware of Greeks taking back gifts' following an agreement by Greek political leaders overnight to take new austerity measures allowing access to Europe's €130 billion aid package.

Date: Thu, 09 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: In January, the Commonwealth Bank of Australia (rated AA-) executed the first domestic covered bond issue by an Australian bank. Whilst foreign banks have been issuing covered bonds for many years, the Australian Parliament only recently passed legislation allowing domestic banks access to this funding alternative.

Date: Wed, 01 Feb 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: If you are wondering whether the banks will pass on any future rate cuts, you should first ask whether they actually can.

Date: Tue, 24 Jan 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: ESG Engagement refers to the process of encouraging changes or improved practices from a company in relation to particular ESG risks, opportunities or issues. Engagement can take many forms from meeting with company management or boards; or the company’s advisors. It can be done in person, via teleconferences, in writing, or in extreme cases can be more publically aired.

Date: Mon, 16 Jan 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Global investor sentiment improved in December 2011, as a lack of new developments in Europe prompted investors to focus on the improving nature of US economic data, which continues to indicate that a double dip recession should be avoided and that confidence is gradually improving. The positive US economic data has been supported by a good start to the earnings season.

Date: Tue, 10 Jan 2012
Target Audience: Adviser.Archive.2012,Investor.Archive.2012
Archived: yes

Introduction: Financial services comprises many specialities, often with their own language and acronyms. In one respect it is a natural part of specialisation, but unfortunately the language and acronyms can exclude others from both inside and outside the industry. Responsible investment (or RI (case in point)) is no different. This three part series aims to provide explanations of the RI terms and acronyms commonly used in financial services.

Date: Mon, 19 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: If there were two words which described 2011 from an investment perspective it would be ‘highly unpredictable’. Investors entered 2011 with the global economy growing at 5%, investors were confident and the All Ordinaries Index rose to a three-year high (5,064) in April. As the year draws to a close, the Australian sharemarket has de-rated in sync with its global peer, with the 20 major markets down, despite earnings per share rising in 17 of these countries.

Date: Thu, 15 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Following the recent interest rate cuts by the RBA, this article explores what’s happening to retail spending and the knock-on effects for retail property landlords.

Date: Wed, 14 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: November proved to be another challenging month for credit investors with the continuation of European political and economic events at the centre of the focus. Policy challenges and a series of downgrades in sovereigns and corporates continued to weigh heavily on market confidence. This was evident as confidence in Germany as the pillar of strength in the European debt crisis was shaken when it failed to sell all its government bonds put up for auction in November. The S&P/ASX 300 Accumulation index reflected the weak outlook with a return of -3.4% for the month.

Date: Tue, 13 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: When considering environmental, social and governance (ESG) issues we often focus on downside risks, but given the season it is a good to time to reflect on some ESG opportunities and good news stories from 2011 on the climate change and energy front.

Date: Fri, 09 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Traditionally, cash and sovereign bonds have been considered investment safe havens. Following the GFC, the safe haven status of traditionally “risk free” sovereign bonds is being questioned, with domestic corporate bonds now providing a more attractive solution for investors.

Date: Thu, 08 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Before getting into the investment implications of differing food scenarios, it is important to start with some context.

Date: Tue, 06 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: The RBA lowered the official cash rate for the second consecutive month by 0.25% down to 4.25%. The accompanying statement by the RBA was fairly in line with what they said after the November easing; citing a weakening global picture, lower commodity prices and easing inflationary pressures globally for the decision.

Date: Fri, 02 Dec 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: This year has been a turbulent time for the natural environment, politics, economies and investment markets around the world. Investors, advisers and fund managers alike know this all too well. Listen to our teleconference to find out more about the impacts on fixed income markets.

Date: Tue, 29 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: How companies communicate to their stakeholders and in particular shareholders has been a moving feast for many years. Every corporate disaster brings new regulations which seek to Band-Aid reporting deficiencies but instead have tended to produce more boiler-plate, compliance related disclosures which make useful information more rather than less difficult to find. In the 1950s annual reports could be as brief as 10 pages whereas now they are often over 100 – How much better an understanding of companies have those disclosures given us?

Date: Fri, 25 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Since the last update, global investor sentiment initially recovered in October as the announcement of Europe’s ‘comprehensive solution’ buoyed market confidence. This resulted in most European markets recording 20%+ price gains (see Table 1) as investors sought to buy seemingly undervalued companies.

Date: Wed, 23 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: In light of the current market conditions, I thought it would be interesting to comment on some of the developments currently re-emerging in the money markets. The money market is a subsection of the larger debt market and is known to be the deepest and most liquid. Within the money market, financial firms and corporates engage in borrowing and lending of billions of dollars through short term loans.

Date: Tue, 22 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Over the last fifty years a number of international covenants (e.g. International Bill of Human Rights) have been developed, helping to define human right and how these should be protected. The role of business in respecting human rights has been, until recently, less clear.

Date: Fri, 18 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: In November 2011, the RBA followed the lead of its Brazilian, Singaporean and Indonesian peers and eased rates (for the first time in 31 months). Much of the subsequent market debate has centred on how much further rates might be reduced, if at all. The futures market has priced in a 100% chance of another two 0.25% rate cuts (and an 81% chance of three rate cuts) by February 2012.

Date: Wed, 16 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Covered bonds have been the latest buzz topic in the media following the release of new legislation (passed on 13 October 2011) which now enables Australian financial institutions to issue these securities. Up until now, covered bonds could only be issued in Australia by overseas institutions. So what are covered bonds and what is all the fuss about?

Date: Mon, 14 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Corporate governance is the set of processes, rules, and structures by which a company is operated, regulated and controlled.

Date: Tue, 08 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Some interesting climate news over the weekend, with US Department of Energy estimating that global CO2 emissions for 2010 increased by a massive 6% over 2009 making it a record year both in the pace of the increase and total emissions. We have also seen a number of studies recently which use statistical analysis to explore links between some weather events and climate change including the 2010 Russian heat wave, increased risk of extreme rainfall in the northern hemisphere and English floods in 2000.

Date: Fri, 11 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: After calming down over the past few weeks, global financial markets experienced renewed volatility this week due to political dithering in Europe. After the Greek Prime Minister backed away from a proposed referendum on economic reforms and resigned, the power transition needed to be seamless, but has been a comedy of errors.

Date: Thu, 10 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: During October, markets reacted to the ongoing sovereign debt issues in Europe and the ‘rescue plan’ which was announced. Markets rallied strongly, with the S&P/ASX 300 Accumulation Index up over 7%.

Date: Wed, 09 Nov 2011
Target Audience: Adviser.Archive.2011,Investor.Archive.2011
Archived: yes

Introduction: Hybrid securities blend characteristics of both debt and equity. Hybrids have been a popular method for SMSF’s and retail investors seeking above cash returns in their fixed income investments when making an allocation to defensive assets. But are hybrids truly defensive?

Could Spain’s austerity make things worse?

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Thu, 12 Jul 2012

There were some important developments overnight, but major markets were fairly tame trading between +0.5%. Spain came out and announced €65 billion of tax rises and spending cuts as part of a deal to secure the €100 billion bank bailout package with the European Commission. This included cuts to unemployment benefits and public service salaries, and increases in sales taxes. More »

Are central banks acting too late?

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Mon, 09 Jul 2012

Well markets were under a tri-angulation of fire on Friday night and sharemarkets, cyclical currencies and commodity prices were all down. Initially, it was reported that the European Summit agreement will not be enforceable until late-2013, rather than late-2012 given all the legislative changes required. In addition, governments will be forced to issue guarantees before any bailout funds are provided to regional banks. This soured investor sentiment as the original plan was to break the link between government and bank funding stress, but unless loans are guaranteed, why would a country like Italy (who has more debt than any other country in Europe) raise E20 billion at 6% and lend it to a bank, get 0% (as stressed banks will not be making dividend payments) and wear potential credit risk? More »

Counting on Abacus

Charlie Lanchester
By Charlie Lanchester | Deputy Head of Equities

Charlie is Deputy Head of Equities and Portfolio Manager for 70% of the Industrial Share strategy and 100% of the Australian Sustainability strategy. He also analyses a small number of stocks in the healthcare and gaming sectors.

Charlie joined Perpetual Investments in May 1999 as an Analyst covering a broad range of sectors, and assumed portfolio management responsibilities from 2002.

Charlie began his career as a Graduate Trainee at Schroder Investment Management in London. After five years he relocated to Australia and joined Platinum Asset Management as an Analyst focusing on global telecommunication companies.

Charlie studied modern history at New College, Oxford and has a Bachelor of Arts (Honours). He is also an Associate of the Society of Investment Professional (part of the CFA).

Tue, 03 Jul 2012

The Australian listed property sector was one of the most heavily sold sectors during the global financial crisis, due to highly leveraged balance sheets and falling asset values. Since then, these companies have restructured their debt and simplified their business models, and this has progressively opened up some investment opportunities. More »

One small step

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Mon, 02 Jul 2012

As we approach the 43rd anniversary of the moon-walk, we are reminded of all of the small steps that, through time, culminated in probably mankind's biggest achievement for the twentieth century. The US did not just design a rocket and decide to go; there were six Mercury program missions, 10 Gemini program missions and 11 Apollo missions, which lay the foundation for the events in July 1969. More »

Two simple questions for investors

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Fri, 29 Jun 2012

Markets are short-term focused at present with sentiment swinging on a daily basis between bargain hunting and pessimism. More »

Principal and agent - the changing corporate bond landscape

Vivek Prabhu
By Vivek Prabhu | Senior Portfolio Manager - Strategy & Risk

Vivek has been Portfolio Manager/Credit Analyst since joining Perpetual Investments in August 2004 and is responsible for credit analysis, portfolio construction and trading.

Vivek has over 15 years industry experience and prior to joining Perpetual worked for eight years at Macquarie Bank as an Analyst, Compliance Manager, Assistant Portfolio Manager (Fixed Interest & Currency) and Credit Analyst. Prior to that he spent four years as an accountant/auditor at Coopers & Lybrand (PwC).

Thu, 28 Jun 2012

The domestic bond market is almost twice as large as the market capitalisation of Australia’s listed equity market. In addition to the protection bonds offer investors by virtue of their preferred position in a company’s capital structure, fixed income investments also offer investors a valuable source of portfolio diversification, typically having a low correlation to equities, being lower in risk and offering more predictable returns. More »

Changing lifecycle creates new challenges

Jorden brown
By Jorden brown | General Manager Adviser Distribution

Jorden joined Perpetual in April 2005 and is responsible for managing the Retail Advised strategy within Perpetual's distribution Group. Within Perpetual, Jorden has held a number of National Account Management and Business development roles. Before joining Perpetual, Jorden worked at Macquarie Bank and Rothschild Australia Asset Management in Business Development roles. Jorden holds a Bachelor of Business Studies from Charles Sturt University.

Fri, 22 Jun 2012

The dramatic changes over recent decades in most people’s lifecycle of work, marriage, family formation and retirement, have created huge challenges for people trying to plan for the future, and their financial advisers. More »

Banking on Basel III

Vince Pezzullo
By Vince Pezzullo | Portfolio Manager / Senior Analyst

Vince is the Portfolio Manager for 30% of the Industrial Share strategy and Senior Analyst covering mainly large cap industrial companies, in particular banks, property trusts and telecommunications.

He joined Perpetual in July 2007 as an Analyst and since that time has covered the chemicals, diversified financials, banking, telecommunications, building materials and REITS sectors.

Prior to joining Perpetual, Vince was a senior portfolio manager / analyst in the large cap Australian equities team at Deutsche Asset Management and led the top 100 equities team. In addition, he had stock research responsibilities across a large number of sectors. He also worked in corporate finance and foreign currency for Monte Paschi Australia Limited.

Vince has a Bachelor of Commerce with a major in Economics and Finance.

Wed, 20 Jun 2012

Following the global financial crisis and the failure of Lehman Brothers, there was an increase in the scrutiny of financial institutions and the introduction of more stringent regulations on the sector. More »

Talking STW Communications

Jack Collopy
By Jack Collopy | Portfolio Manager

Jack is the Portfolio Manager of the Smaller Companies strategy and an Analyst covering small cap companies across a range of sectors.

Jack joined Perpetual in November 2001 as an Investment Administrator and Equity Dealer. After four years, he moved into an Analyst role focusing on small cap industrial companies. Jack took on portfolio management responsibilities in June 2010.

Prior to joining Perpetual, Jack gained two years industry experience working in London as an Equities Dealer and Investment Administrator at both Salomon Smith Barney and Goldman Sachs Asset Management.

Jack has a Bachelor of Economics from the University of Sydney.

Tue, 19 Jun 2012

We’ve held STW Communications in our portfolios for a number of years, but recently it’s become one of my favourite stocks because it has a number of the key characteristics I look for. More »

Election over, but the politics is getting really messy

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Mon, 18 Jun 2012

On the day when East Germans voted against government-enforced austerity 49 years ago, the Greek election was run and the pro-austerity New Democracy party (ND - which attracted just 29.9% of the vote, which is 88% complete) is poised to be invited to form a coalition government by the Greek President. World leaders, financial markets and European authorities all breathed a collective sigh of relief with the result, with the anti-austerity left leaning Syriza party (26.7%) coming in second. In a strange twist the total of the anti-bailout parties (46.2%) was higher than the pro-bailout parties (41.8%), but the largest party (the ND) is awarded 50 extra seats under Greek rules for having more votes than anyone else (that, apparently, is democracy for you). More »

Greece is the word

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Fri, 15 Jun 2012

Global sharemarkets have been progressively declining (down between 3% and 10%) since the start of May 2012 in preparation for the second Greek election this weekend. More »

Corporate bonds – the upside of the downside

Michael Korber
By Michael Korber | Head of Credit

Michael has been Head of Credit since joining Perpetual in August 2004. He is responsible for the ongoing strategic review and development of process, reviewing the weekly credit process and reviewing the analysis of all new credit securities.

Michael has over 24 years industry experience and prior to joining Perpetual worked as the first Head of Credit at Macquarie Funds Management, spending six years developing its credit investment processes and building the business from inception to over $7 billion in funds under management. Prior to this, he spent seven years as Divisional Director in Corporate Banking and four years as second in charge to the Head of Macquarie Bank Credit. Earlier, he had spent five years as a Credit Analyst with Westpac Corporate Banking.

Tue, 12 Jun 2012

With Europe struggling to bring its government and bank solvency crisis under control, the yields on Italian and Spanish bonds have soared to dangerous levels, while those of supposedly safe-haven countries, the US, Germany, Japan, have rallied to record lows. More »

Sovereign bonds – risky or risk free?

Vivek Prabhu
By Vivek Prabhu | Senior Portfolio Manager - Strategy & Risk

Vivek has been Portfolio Manager/Credit Analyst since joining Perpetual Investments in August 2004 and is responsible for credit analysis, portfolio construction and trading.

Vivek has over 15 years industry experience and prior to joining Perpetual worked for eight years at Macquarie Bank as an Analyst, Compliance Manager, Assistant Portfolio Manager (Fixed Interest & Currency) and Credit Analyst. Prior to that he spent four years as an accountant/auditor at Coopers & Lybrand (PwC).

Fri, 08 Jun 2012

Sovereign bonds represent a loan made to a national government, typically denominated in that country’s currency. Traditionally, they were considered risk free, as sovereigns could either print money or raise taxes to repay their debt when it fell due. In the case of countries in the European Union with a common currency, individual countries can’t unilaterally print currency to repay debt. Concerns surrounding the credit quality of some sovereigns, such as Italy and Spain, have seen yields on their government debt soar. More »

Looking beyond stormy weather

Matt Williams
By Matt Williams | Head of Equities

Matt is Head of Equities and responsible for the strategic direction of the equities business and oversight of all investment strategies. He also provides support and mentoring to the analysts and portfolio managers in the team. Matt is the Portfolio Manager for the Australian Share strategy, the Pure Value Share strategy and the Global Resources strategy. In the past he has managed the Smaller Companies strategy and 50% of the Industrial Shares strategy.

Matt joined Perpetual Investments in August 1993 as an Equities Dealer, before becoming an Analyst in 1997 and Portfolio Manager in 1998.

Prior to joining Perpetual, he worked as a Board Broker on the Australian Option Market and as a Cash/Bills Dealer at Lumley Corporation.

Matt has a Bachelor of Economics from the University of New England.

Thu, 07 Jun 2012

One of the most important aspects of our investment philosophy at Perpetual is that we don’t just ‘move with the pack’ and invest in stocks that are in the index, or that other investors like. We conduct rigorous analysis on stocks and draw our own conclusions about whether they’re worth holding in our portfolios or not. A good example of this is Insurance Australia Group (IAG)... More »

30 June deadline for over 50s super boost

Perpetual
By Perpetual

Perpetual is one of Australia’s most experienced investment and trustee groups, with an enduring passion for protecting and growing our clients’ wealth.

Our vision is to be the leading provider of wealth management products and services to financially successful investors and their advisers, and to be the leading corporate trustee.

Founded in Sydney in 1886 as Perpetual Trustees, we’ve helped generations of Australians invest and manage their wealth through all market conditions.

Tue, 05 Jun 2012

People aged 50 and over have up until 30 June this year to boost their super with up to $50,000 in concessional (pre-tax) or deductible contributions. More »

Much better prepared this time around

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Mon, 04 Jun 2012

Although some investors may feel there are some similarities between 2008 and 2012, there are some important differences. More »

Grexit or Spanic?

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Thu, 31 May 2012

Market commentators love their abbreviations. At the moment Grexit (or Greek exit) is a hot topic in Europe, but the main game for investors may be Spanic (or Spain panic). More »

So what's the alternative

Damien Webb
By Damien Webb | Head of Multi Manager Funds

Damien joined Perpetual in January 2003 and is the Head of Multi Manager for Perpetual’s Select multi-manager fund. As Head of the Multi Manager funds, he is responsible for the Perpetual multi-manager investment process, manager research and selection and ensuring that the multi-manager funds are invested in line with approved policies. Prior to joining Perpetual, Damien held a number of positions at ING Investment Management. From January 2000, he was a Portfolio Manager for Optimix Investment Management, ING’s multi-manager group, where he was responsible for manager research and blending and contributing to the tactical asset allocation strategy. Damien received a Bachelor of Economics degree from Sydney University and is an Associate of the Securities Institute of Australia, having completed his Graduate Diploma in Applied Finance and Investment. In 2006, Damien completed his Masters in Applied Finance with Macquarie University.

Thu, 31 May 2012

As a result of the financial market turmoil of recent years, many investors have been searching for ways to diversify their returns and help insulate their portfolio in times of market stress, such as now. More »

Around the world in a weekend

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Tue, 29 May 2012

It was a very choppy session in European sharemarkets over the weekend, but a rock solid win by Collingwood. The sharemarkets opened strongly on the back of value-hunting, with the German Dax up 1.2% at its peak. Then the periphery came in to spoil the party with a three trick play. More »

Share investing in uncertain times

Vince Pezzullo
By Vince Pezzullo | Portfolio Manager / Senior Analyst

Vince is the Portfolio Manager for 30% of the Industrial Share strategy and Senior Analyst covering mainly large cap industrial companies, in particular banks, property trusts and telecommunications.

He joined Perpetual in July 2007 as an Analyst and since that time has covered the chemicals, diversified financials, banking, telecommunications, building materials and REITS sectors.

Prior to joining Perpetual, Vince was a senior portfolio manager / analyst in the large cap Australian equities team at Deutsche Asset Management and led the top 100 equities team. In addition, he had stock research responsibilities across a large number of sectors. He also worked in corporate finance and foreign currency for Monte Paschi Australia Limited.

Vince has a Bachelor of Commerce with a major in Economics and Finance.

Mon, 28 May 2012

Many commentators are expecting the sharemarket to be volatile over the next couple of months, so Charlie Lanchester and I have positioned the Perpetual Industrial Share Fund to find yield and take advantage of any market upturn. More »

Why I need Uncle Sam

Nathan Parkin
By Nathan Parkin | Portfolio Manager

Nathan is the Portfolio Manager for the Ethical SRI strategy and an Analyst, covering mainly small cap industrial companies across a range of sectors.

Nathan rejoined Perpetual in October 2010 as an Analyst, having previously spent six years with the company from 1997 to 2003 in relationship management and business development roles. In July 2011 he took on portfolio management responsibilities.

Nathan has 11 years experience outside of Perpetual, which most recently included a seven-year period with 452 Capital from 2003 to 2010. At 452 Capital he began as a Dealer, and after two years, moved into an Analyst role where he covered industrials, financials and small caps over the next five years. Nathan’s career in financial markets began in 1994 at the Australian Stock Exchange, where he was an Index Analyst.

Nathan has a Bachelor of Economics from Macquarie University, a Graduate Diploma of Applied Finance from FINSIA and is a Fellow of FINSIA.

Fri, 25 May 2012

Recently I spent some time in the US, visiting companies and meeting with their management. I did this to gain first-hand knowledge of how some of my favourite Australian companies are competing and succeeding over there, and to gain further understanding of the strength of the US consumer. More »

Beware of bull about bonds

Michael Korber
By Michael Korber | Head of Credit

Michael has been Head of Credit since joining Perpetual in August 2004. He is responsible for the ongoing strategic review and development of process, reviewing the weekly credit process and reviewing the analysis of all new credit securities.

Michael has over 24 years industry experience and prior to joining Perpetual worked as the first Head of Credit at Macquarie Funds Management, spending six years developing its credit investment processes and building the business from inception to over $7 billion in funds under management. Prior to this, he spent seven years as Divisional Director in Corporate Banking and four years as second in charge to the Head of Macquarie Bank Credit. Earlier, he had spent five years as a Credit Analyst with Westpac Corporate Banking.

Wed, 23 May 2012

There’s been a lot of comment lately about the appropriate allocation to bonds in superannuation and retirement pension portfolios. However, even those commentators who have suggested that investors need to increase their strategic weighting to bonds over the long term have expressed concern that now might not be such a great time to do it. But what many clients don’t understand is that there are bonds and there are bonds, carrying very different kinds of risk – credit risk and duration (interest rate) risk. More »

Europe - who should leave and how?

Matthew Sherwood
By Matthew Sherwood | Head of Investment Market Research

Matthew is Perpetual Investment’s Head of Investment Markets Research. In his role, Matthew conducts research on and acts as an external voice on the Australian and global economies, financial markets and portfolio strategies.

Matthew has extensive financial industry experience as an economist, investment strategist and central banker. Prior to joining Perpetual Investments in 2005, he worked as an Investment Research Manager at ING Investment Management and before that he was a Senior Economist with the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation. Matthew has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney.

Mon, 21 May 2012

European troubles have resurfaced and the question now is whether Greece will leave the Euro or be kicked out. Matt Sherwood, Perpetual’s Head of Investment Market Research proposes a solution. More »

ResMed - good medicine for risk-weary investors

Charlie Lanchester
By Charlie Lanchester | Deputy Head of Equities

Charlie is Deputy Head of Equities and Portfolio Manager for 70% of the Industrial Share strategy and 100% of the Australian Sustainability strategy. He also analyses a small number of stocks in the healthcare and gaming sectors.

Charlie joined Perpetual Investments in May 1999 as an Analyst covering a broad range of sectors, and assumed portfolio management responsibilities from 2002.

Charlie began his career as a Graduate Trainee at Schroder Investment Management in London. After five years he relocated to Australia and joined Platinum Asset Management as an Analyst focusing on global telecommunication companies.

Charlie studied modern history at New College, Oxford and has a Bachelor of Arts (Honours). He is also an Associate of the Society of Investment Professional (part of the CFA).

Tue, 22 May 2012

ResMed is an industrial stock which is a global leader in the development of medical products for the diagnosis, treatment and management of respiratory disorders, most notably sleep apnea. More »

A peak at Oil Search

Paul Skamvougeras
By Paul Skamvougeras | Portfolio Manager

Paul is the Portfolio Manager for the SHARE-PLUS Long-Short strategy, the Pure Equity Alpha strategy and the Concentrated Equity strategy.

Paul rejoined Perpetual Investments in February 2010 as a Portfolio Manager, having previously spent seven years with Perpetual. He began his career with Perpetual in 1994 in a back office role, moving into a dealing role after three years, working his way up to the Head Dealer role.

Between stints at Perpetual, Paul spent seven years working at CPH/Ellerston Capital, where he had portfolio management responsibilities for an Australian long/short strategy for the first four years and a global long/short strategy for the last three years.

Paul has a Bachelor of Economics from Macquarie University and is a Member of the Institute of Chartered Accountants.

Fri, 18 May 2012

Oil Search is an oil and gas exploration and development company that operates all of Papua New Guinea’s (PNG’s) productive oil and gas fields. There are a number of reasons why I like the stock. More »

Finding a GEM

Jack Collopy
By Jack Collopy | Portfolio Manager

Jack is the Portfolio Manager of the Smaller Companies strategy and an Analyst covering small cap companies across a range of sectors.

Jack joined Perpetual in November 2001 as an Investment Administrator and Equity Dealer. After four years, he moved into an Analyst role focusing on small cap industrial companies. Jack took on portfolio management responsibilities in June 2010.

Prior to joining Perpetual, Jack gained two years industry experience working in London as an Equities Dealer and Investment Administrator at both Salomon Smith Barney and Goldman Sachs Asset Management.

Jack has a Bachelor of Economics from the University of Sydney.

Wed, 16 May 2012

G8 Education Limited is the only child care centre operator listed in Australia (ASX code: GEM) and there are a number of reasons why I like the stock. More »

This information has been prepared by Perpetual Investment Management Limited (PIML) ABN 18 000 866 535, AFSL 234426. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. The views expressed in this article are the opinions of the author at the time of writing and do not constitute a recommendation to act. Any information referenced in the article is believed to be accurate at the time of compilation and is provided by Perpetual in good faith. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor's capital.