Standard & Poor’s Fund Services has announced that ratings of Perpetual’s Australian equities funds are unaffected after the announcement that John Sevior will not return to his role as head of equities.
Matt Williams and Charlie Lanchester are confirmed as head and deputy head of equities, respectively. They were acting in these roles during Mr. Sevior’s recent six-month leave of absence.
Our existing ratings for Perpetual’s Australian-equities funds already took into account the probability that Mr. Sevior might not return to Perpetual. Our level of comfort with Mr. Williams and Mr. Lanchester and the strength of the broader team and process provide the basis for our continued conviction.
Mr. Williams and Mr. Lanchester are experienced investors and have worked at Perpetual for 18 and 12 years, respectively. They have an extensive track record of working together, and strong familiarity with the Perpetual process.