In this newly created role, Mr Lidbury will lead the Australia-based investment team, overseeing managed account portfolio construction, asset allocation, and adviser investment communications.

PPS brings PAM’s established investment capabilities and technology to the Australian market through managed account solutions tailored for local financial advisers and their clients. PAM, including PPS, is wholly owned by Pinnacle Investment Management Group (“Pinnacle”) and runs a single integrated investment team across its Sydney and London offices.

Formerly the Chief Investment Officer of Perpetual’s wealth management business, Mr Lidbury has more than two decades of financial services experience spanning investment research and portfolio management. He holds a Bachelor of Accounting from the University of Technology Sydney and is a CFA and CAIA charterholder.

“It’s exciting to be working with the teams across the UK and here in Australia. Pacific combines specialist investment expertise with modern technology, enabling us to implement investment decisions and adjust portfolio positioning with a level of efficiency and flexibility I have not previously seen in the Australian market,” Mr Lidbury said.

Pacific Asset Management CEO, Matt Lamb, commented on the appointment: “We’re bringing something distinctive to Australian managed accounts with PAM’s proven multi-asset process and implementation technology. We’re delighted to have Kyle leading the Australia investment team as we build on our success in the UK market.

“Being part of the broader Pinnacle Group uniquely positions the team to draw on the breadth of expertise across the Group’s high-quality affiliated fund managers and the strength of its institutional infrastructure.”

Pinnacle’s Head of Managed Accounts, David Wright, also commented on the appointment: “Kyle brings deep investment expertise and a strong understanding of the needs of financial advisers. He combines his portfolio construction and asset allocation experience with an ability to explain investment decisions clearly and communicate what they mean for client portfolios.”

The initial PPS offering will include the Pinnacle SMA Range (comprising Moderate, Balanced, Income, Growth, High Growth, and Listed Growth portfolios), providing portfolio solutions built exclusively from Pinnacle Affiliates’ actively managed strategies.

In the coming months, PPS will also introduce the Pacific Core Range – Pacific Asset Management’s flagship UK model portfolio offering – to Australia through managed account solutions tailored for the local wealth market.

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Kyle Lidbury

Perpetual Private Investment Research Team (PPIRT) has for the second year running, won the category for Best Multi Strategy Fund at last week’s Hedge Funds Rock Australian Alternative Investments Awards for the Perpetual Income Opportunities Fund.

Perpetual Private Head of Investments Research, Kyle Lidbury, said “This is an outstanding achievement for the team to receive industry recognition, winning the award two years in a row.

“We’re proud to have received this accolade again though most importantly it’s our clients who are the winners. The Perpetual Income Opportunities Fund is a product for the times and continues to deliver its objectives in the current market environment.”

The Perpetual Growth and Income Opportunities Funds were designed for Perpetual Private’s high net worth and charitable client base. Developed in 2008, the funds help clients diversify their portfolios and provide strategic investment alternatives. The funds have been strongly supported, with the PPIRT now managing more than $1 billion in alternative strategies with the Growth and Income Opportunities Funds representing $615 million of this amount.

Mr Lidbury commented, “There are relatively few funds in Australia offering true alternative options to high net worth investors, particularly in infrastructure, private equity, unlisted property, private debt, cash and currency and absolute returns.

“For many investors, Multi Strategy funds can offer wider diversification of risk and the chance to generate income returns in market conditions that traditionally have been difficult for income investors.”

Perpetual Private has $14.8 billion in funds under advice (as at 30 June 2019) and has transformed its client offering to provide holistic advice in a professional services model.

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Don’t ignore alternative assets, even during a bull run.

The bull run in Australia’s equity markets has been a magnet to investors with an appetite for simple, cheap and passive investment products, but this approach has led many to ignore the opportunities that alternative assets can deliver, including consistent income and growth.

Kyle Lidbury, Head of Investments Research of Perpetual Private, said that lack of accessibility and understanding of the value of alternative assets to achieving portfolio diversification has created barriers for investors seeking long term income and growth.

“Mainstream assets such as equity and fixed income remain attractive for investors because they are transparent and easy to buy and sell. However, the returns that can be generated from these assets are just the tip of the iceberg.

“We are in a unique environment of low interest rates and low volatility which is favouring growth stocks, but investors are missing out on diversifying their portfolio risk to buffer the impacts of a market correction that could see the tides on equities turn. This is where alternative assets such as infrastructure, private equity, property and absolute return investments can deliver returns that can diversify investors’ traditional market exposure and to help them achieve long-term objectives with less risk,” Mr Lidbury said.

Access to alternative assets has been historically difficult for many investors because of high fees, opacity of information, complexity of investments and the lack of true alternative options available.

In response to these barriers, the growing need to diversify traditional equity and fixed income risks, as well as the need for consistent income and long-term growth, Perpetual Private developed the Perpetual Income Opportunities Fund and the Perpetual Growth Opportunities Fund for its high net worth client base. Both Funds are celebrating 10-years in market this year and have a combined funds under management of $1 billion.

“Many high net worth clients appreciate the role these award winning Funds can play as part of a diversified portfolio which are recommended as part of a comprehensive professional financial plan. They are relatively unique funds in Australia, providing investors with diversification and exposure to alternative assets – a space typically only accessible to institutional investors.

“The assets within both Funds span private equity, unlisted property, both listed and unlisted infrastructure, private debt, cash and currency, and absolute returns. These are carefully managed by specialists with deep knowledge and expertise in managing often-illiquid assets to deliver consistent income and growth that can balance and diversify investors’ exposure to equities and bonds,” said Mr Lidbury.

Last week, Perpetual was recognised as Best Alternative Investment Manager of the Year and its Perpetual Income Opportunities Fund won Best Multi Strategy Fund at the annual Hedge Funds Rock Alternative Investments Awards.

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In this role, Mr Lidbury will be responsible for managing Perpetual Private’s multi-manager product and the APL process for its model portfolio.

This is a new role which combines Perpetual Private’s multi-manager and model portfolio research teams into a large research platform to support the evolving needs of its client base.

Jason Komadina, General Manager Product and Investments, Perpetual Private, said Mr Lidbury’s knowledge and experience will help to further grow the business’ investment offerings.

“Our clients are increasingly looking for more sophisticated investment solutions making the service offered by this team key to Perpetual Private,” Mr Komadina said.

“As a result, we have created a new role to lead and develop a broader and deeper research platform. With his broad experience in institutional and retail wealth management, Kyle is well placed to lead the business in achieving our goals going forward and continuing to deliver exceptional outcomes for our clients.”

Perpetual Private’s investment solutions have delivered strong returns for investors during recent years. Its flagship Managed fund Balanced Model Portfolio has outperformed the benchmark by 2% during the past year, while its multi-manager Select Investment Balanced Fund has outperformed by 2.1% over the same period*.

Mr Lidbury has 17 years of experience in financial services and moves into the position from his current role as General Manager Research and Operations, Perpetual Investments. Prior to joining Perpetual he was Manager Research Relationships at MLC / nabWealth. He holds a Bachelor of Accounting degree from the University of Technology, Sydney, and is a CPA and CFA charterholder.

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