Perennial Value appoints new Mid Cap and Small Cap Heads


John Murray

Perennial Value Management has announced significant career opportunities for two of its Senior Investment Executives. Grant Oshry has been promoted to Head of Mid Caps and Andrew Smith has been promoted to Head of Smaller Companies and Micro Caps.

John Murray, Perennial Value Managing Director, welcomed the new career opportunities which this brings for Grant and Andrew, who each have a long history of successful asset management with the firm.

“Perennial Value has a track record of developing and retaining valued investment team members and delivering outperformance to investors. Today’s announcements build on that heritage,” he said.

“Grant has been appointed to head our Mid Cap capability after very successfully leading our Small Caps business since January 2007. Andrew will take over Grant’s role and lead our expansion into microcap asset management. We believe there are significant niche opportunities for active management in each of the ex – Top 20, small and microcap sectors of the Australian market.”

As Head of Mid Caps, Mr Oshry will manage part of the flagship Perennial Value Australian Shares Trust. Perennial Value will also offer its mid cap portfolio as a standalone product for investors who are seeking to add alpha in the ex – Top 20 end of the market.

“Grant has a very successful track record as a fund manager. The Perennial Value Smaller Companies Trust has delivered alpha of 8.0% per annum under his leadership and funds under management (FUM) have grown from $10m to some $550m”, said Mr Murray.

“Grant will now expand his portfolio management and analytical responsibilities in the mid cap segment where he already has an extensive knowledge of listed companies, given many have been promoted from the smaller companies’ universe over the years.”

Mr Oshry said: “I’m excited to be expanding my expertise into the Mid Cap segment at a time when Perennial Value is expanding its niche offers in the Australian asset management market.”

As co-small cap portfolio manager for the past nine years, Mr Smith has also made a significant contribution to an impressive Perennial Value Smaller Companies track record.
“The elevation of Andrew to Head of Smaller Companies and Micro Caps is a natural step and provides him with the opportunity to take on greater responsibility and capitalise on his extensive investment experience for the benefit of investors,” said Mr Murray.

Mr Smith said: “Having worked at Perennial Value for over nine years, I welcome the leadership role and expansion of the firm’s micro-cap investment offering after its successful launch earlier this year. In addition to small caps, microcaps is an area where active management can reward investors and that’s exactly what Perennial Value is doing with its new product.”

In February 2017, Perennial Value launched the Perennial Value Microcap Opportunities Trust strategy and it has delivered an exceptional 28% return over the short time it has been running.

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