The announcement reflects the planned retirement of Michael Korber, who will step down from this leadership position after more than 40 years in the industry and more than 20 years at Perpetual.

Vivek, who is currently Perpetual’s Head of Fixed Income, will commence in the leadership role from 1 July 2025. He has more than 30 years industry experience and has been with Perpetual for over 20 years, working closely with Michael and the broader team. He has a deep understanding of the team’s investment philosophy, process and approach, and has a proven track record as Portfolio Manager for the team’s income strategies, which collectively have more than $3.8 billion in funds under management. Vivek will continue in his role as Portfolio Manager for the Perpetual Diversified Income Fund, Perpetual Credit Income Fund and Perpetual ESG Credit Income Fund.

While Vivek will assume the Head of Credit & Fixed Income leadership role from 1 July, Michael will continue in his current Portfolio Manager role for a period of up to 12 months. Greg Stock, Perpetual’s current Head of Credit Research and Senior Portfolio Manager who has also been with the business for over 20 years, has been appointed Deputy Portfolio Manager for the Perpetual Credit Income Trust and Perpetual Pure Credit Alpha Fund and will work closely with Michael during the transition period.

Chief Executive, Perpetual Asset Management Australia, Amanda Gillespie said: “Michael’s contribution, not only as a leader in our business but as one Australia’s most respected credit and fixed income investors, has been enormous. We are incredibly thankful for the commitment and dedication he has shown to providing quality client outcomes and building such a strong and talented team throughout his tenure at Perpetual.

“Importantly, Perpetual has a long and proud history of developing and promoting talent from within, and our focus on succession planning ensures we have the strength and depth for this transition.

“Vivek is a highly respected Portfolio Manager and his natural leadership skills, commitment to fostering strong and collaborative teams, coupled with his dedication to providing quality investment outcomes, ensures we will continue to deliver for our clients.”

Perpetual’s Credit & Fixed Income team comprises of eight investment professionals managing more than $8 billion in funds under management.

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