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Perpetual Corporate Trust appointed Responsible Entity of Ophir’s High Conviction Fund

21 Sep 2017
From

Andrew Cannane

Highlighting the growing need for independent Responsible Entity (RE) providers, Perpetual Corporate Trust has been appointed as the RE of Ophir Asset Management’s High Conviction Fund.

Perpetual Corporate Trust General Manager Andrew Cannane said: “Our expertise as an independent RE is in higher demand than ever as we see an increase in responsible entity transactions, new fund launches and listed deals coming to market.

“Perpetual is one of the leading independent providers of responsible entity services to the managed funds industry in Australia, and we are committed to providing market-leading services to our clients.”

Ophir is a specialist small and mid-cap equities manager founded in 2012, managing two funds with more than $620 million in funds under management. Historically both funds have only been made available to wholesale and institutional investors as unregistered schemes. Today’s announcement means retail investors will have access to the High Conviction Fund.

Mr Cannane added, “Ophir has a strong track record and a commitment to providing the best outcome for their clients – qualities that resonate strongly with our business. We are delighted to be appointed as RE and look forward to working with them in the future.”

Ophir Investment Director and Head of Sales Rob Saunders said: “The appointment of Perpetual as RE will enable easier access to the offering through a PDS and will also allow us to concentrate on doing what we do best – generating strong returns for our investors. We have a committed and dedicated team focused on high performance and Perpetual’s brand and expertise in the RE space will substantially benefit our business going forward.”

The announcement follows a strong 2017 financial year for Perpetual Corporate Trust’s Managed Funds Services division, with revenue of $40.6 million up 12 per cent on FY16.

“With a mix of responsible entity transactions, new fund launches and listed deals, there is a growing need for expert independent RE providers in the market, which has benefitted our business,” said Mr Cannane.

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