Perennial Global Resources Trust receives ‘Recommended’ rating from Zenith
Ewan Galloway
Perennial Partners is pleased to announce that its recently launched ‘Perennial Global Resources Trust’ has received a ‘Recommended’ rating from independent investment research house Zenith Investment Partners.
The rating follows the launch of the Trust in May 2026, extending Perennial’s established natural resources investment capability into global markets and providing investors with access to a significantly broader universe of listed resources companies.
In its assessment, Zenith described the Trust as a “highly differentiated offering for investors seeking a dedicated global resources exposure”, highlighting the investment team’s experience, complementary expertise and disciplined investment process.
Zenith noted that while the Trust has a limited performance history, it draws confidence from the portfolio managers’ robust investment process, which has delivered impressive returns since March 2020 through the team’s established resources strategy.
The Trust is managed by portfolio managers Sam Berridge and Ewan Galloway, who also manage the Perennial Strategic Natural Resources Trust, which closed to new investors earlier this year after reaching its self-imposed capacity limit of approximately $300 million.
Zenith highlighted the portfolio managers’ specialised expertise and complementary investment responsibilities, with Berridge focusing on smaller companies and Galloway on larger companies.
The research house also endorsed the team’s investment philosophy and research approach, describing its fundamental research process as “robust and transparent” and its security selection process as “well-structured and sufficiently detailed”.
Portfolio Manager Ewan Galloway said the rating represented an important independent assessment of the team’s investment capability as it expanded into global markets.
“The Global Resources Trust builds on the investment philosophy and process we have developed over more than six years, while allowing us to pursue opportunities across a much broader range of companies, commodities and jurisdictions.
“Zenith’s assessment recognises the strength of our investment process and the complementary expertise within the team. We believe the global resources sector offers a substantial opportunity for active investors able to identify mispriced assets and companies.”
The Perennial Global Resources Trust can invest up to 100% of its portfolio offshore, compared with a maximum of 30% under the existing Strategic Natural Resources Trust. It aims to deliver absolute returns of 6.5% per annum after fees over rolling five-year periods.
