First Sentier Investors’ funds transition RE to The Trust Company

Sydney Harbour

Perpetual Corporate Trust

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Unit holders in 13 of First Sentier Investors’ funds voted in favour of a change in responsible entity (RE) from Colonial First State Investments Limited (Colonial First State) to The Trust Company (RE Services) Limited (Perpetual Corporate Trust).

The transition in RE follows First Sentier Investors’ change in ownership to Mitsubishi UFJ Trust and Banking Corporation, a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., in August 2019. Given the change in ownership, Colonial First State believed it was an appropriate time to retire as the RE of the funds.

Liz Hastilow, Managing Director, Australia and New Zealand at First Sentier Investors said: “First Sentier Investors’ strong investment and client servicing capabilities combined with The Trust Company’s depth of experience in fund compliance and governance will ensure our clients are well looked after. It is critical that our clients’ funds are well supported in every respect.”

Vicki Riggio, General Manager of Managed Funds Services at Perpetual Corporate Trust commented: “The Trust Company is proud to be appointed as the responsible entity for the First Sentier Investors funds following the result of the unit holders’ meeting today and to be working with an investment manager of the calibre of First Sentier Investors. As a leading, independent responsible entity supporting more than 70 Australian and international investment managers, we believe we are well positioned to oversee these funds. We look forward to working with First Sentier Investors.”  

The RE transition will become effective on 1 March 2021.

This content has been prepared by Perpetual Corporate Trust services are provided by Perpetual Corporate Trust Limited ABN 99 000 341 533 AFSL 392673, Perpetual Limited ABN 86 0000 431 827 and its subsidiaries. Perpetual Limited and certain of its subsidiaries act as Authorised Representatives of Perpetual Trustee Company Limited ABN 42 000 001 007, AFSL 236643. 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. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. Any views expressed in this document are opinions of the author at the time of writing and do not constitute a recommendation to act.