The Perpetual Wholesale Smaller Companies Fund aims to provide long-term capital growth and income by investing in companies outside the S&P/ASX 50 Index (when first acquired).

The portfolio leverages the growth potential of smaller and emerging companies through a proprietary stock selection process. Perpetual only invests in a company when we believe its share price is attractive relative to its return potential. We seek to hold positions for the long term.

Features and Benefits

  • Growth potential for strong returns

    Small companies investing can provide excellent longer-term growth potential as we seek to invest in quality, smaller companies with room to grow.

  • Consistent long-term performance

    Since inception in 1996, the Fund has earned above-benchmark returns for investors.

  • Deep research advantage

    Perpetual’s investment philosophy focuses on bottom up research and engagement with management. This is particularly valuable in smaller companies.

  • Expert management team

    The Fund is managed by one of Australia’s largest and most experienced equity teams.

Perpetual Wholesale Smaller Companies Fund

Pricing & Performance

Performance as at 31/05/2022

Returns as at 31/05/2022

  Growth % Distribution % Total %
1 month -4.21 -- -4.21
3 month 0.91 -- 0.91
6 month -0.13 1.26 1.13
1 year -3.66 14.16 10.50
3 year 7.67 8.10 15.77
5 year 2.25 9.73 11.98
10 year 2.19 10.57 12.76

Unit Prices as at 23/06/2022

View price history


Frequency Half Yearly
Cents per Unit 1.885
Reinvestment Price 1.489
View distributions history

Fund Commencement Date

October 1996

Target Market Determination (TMD)

Details & Fees

About this fund

  • Fund Manager

    Perpetual Investment Management Limited

  • Asset Class

    Australian shares

  • Suggested Length

    5 years or longer

Investment Objective

Aims to provide long-term capital growth and income through investment in quality Australian industrial and resource shares which, when first acquired, do not rank in the S&P/ASX 50 Index.

Investment Approach

Perpetual researches companies of all sizes using consistent share selection criteria. Perpetual's priority is to select those companies that represent the best investment quality and are appropriately priced. In determining investment quality, investments are carefully selected on the basis of four key investment criteria:
- conservative debt levels
- sound management
- quality business and
- recurring earnings.

Derivatives may be used in managing the Fund.

Investment Details

Minimum Initial Investment $25,000
With Savings Plan  
Minimum Initial Investment $25,000
Monthly Minimum Nil
Minimum Additional Investment $2,000


Entry 0
Exit 0
Management Fee (p.a.) 1.25%. Refer to PDS for Management Costs.
Buy / Sell Spread 0.12% / 0.12%

Investment Guidelines

Australian smaller companies shares 80 - 100%
Cash 0 - 20%


Half Yearly
June 30, December 31

How to Invest

  1. Perpetual Wholesale Funds feature Perpetual’s leading investment management capabilities. They are designed for individual and wholesale investors, and super fund trustees, with $25,000 or more to invest. You can also invest through investor directed portfolio services.

    Continuous disclosure and updates for Perpetual Wholesale Funds

    Continuous disclosure and updates for Perpetual Pure Series Funds

    Find out more about Perpetual Wholesale Funds

  2. Making an investment

    Review the Product Disclosure Statement (PDS) and related documents to ensure you understand how the fund works and the risks involved. 

    Online Application

    Apply for Perpetual Wholesale funds


    Apply for Perpetual Pure series funds


    Send your completed application & identification documents to:

    Perpetual Wholesale Funds

    GPO Box 4171, Sydney NSW 2001

    If applying to Perpetual Pure Series Funds:

    Perpetual Pure Series Funds

    GPO Box 4171, Sydney NSW 2001

    Customer Identification Requirements


    All forms, offer documents and PDS’s can be found in Forms, PDS's and Offer Documents page in our Resources section.

  3. If you are an institutional investor


    Please contact one of our institutional relationship managers or phone 1800 110 941. 

Perpetual Investment Management Limited ABN 18 000 866 535 AFSL 234426 and/or Perpetual Superannuation Limited ABN 84 008 416 831 AFSL 225246 are the issuers of the Funds. you should consider the relevant Fund product disclosure statement or other offer document before deciding whether to invest. The product disclosure statements and target market determinations for the Funds are available on this website.

Returns have been calculated using exit prices after taking into account all ongoing fees, and assuming reinvestment of distributions. No allowance has been made for entry fees, exit fees or where applicable taxation. Future returns may bear no relationship to the historical information displayed. The returns shown represent past returns only and are not indicative of future returns of a Fund. Returns on a Fund can be particularly volatile in the short term and in some periods may be negative.