Mr Phillips joined Perpetual as a graduate in 2012 and has worked across several divisions in Perpetual Investments.

As a Global Equities Analyst, Mr Phillips will focus on strategies covering mainly consumer discretionary, industrial, chemical and diversified financial companies.

Perpetual Head of Equities, Paul Skamvougeras said Mr Phillips’ appointment to this role highlighted Perpetual’s commitment to developing staff and promoting from within the organisation.

“This appointment further demonstrates the continued growth of our global equities capability and our commitment to this strategy,” Mr Skamvougeras said.

Perpetual’s equities team comprises 20 investment professionals managing a hand-picked portfolio of high quality companies chosen for their long-term investment potential and attractive valuations. The global strategy currently has $1.3bn in funds under management.

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The Fund invests in Perpetual’s highest conviction bottom-up long and short stock ideas, regardless of the stock’s size or index weighting. The Fund’s default position is to hold cash and then opportunistically invest in stocks that are likely to rise (i.e. invest long) or fall (i.e. short sell) in value. The gross and net market exposure ranges for the Fund are wide at 0% – 200% and -20% to 100% respectively (net is expected to typically be 20% to 60%). Net and gross market exposures are an outcome of the volume of long and short stock ideas the Manager sees in the market, rather than the portfolio managers making top down market calls.

Fund facts:

• Highly regarded investment team with expertise in long/short equities.
• Flexible investment approach with ability to opportunistically invest in stocks long and short or alternatively sit in cash when opportunities are scarce.
• Fund capacity capped at $350m (soft close) to allow the flexibility to invest long and short across the market cap spectrum (Fund is market cap unaware).

Zenith’s View

While the Fund is new, Zenith has a high degree of conviction in not only Perpetual’s seasoned team and research process, but also the individual portfolio managers responsible for the Fund. As portfolio managers, Paul Skamvougeras and Anthony Aboud both have experience in managing long/short portfolios and have strong track records. We are far more comfortable endorsing a long/short fund that is run by seasoned long/short professionals, as opposed to long only managers applying their skills to long/short.
Zenith rates the Fund Recommended.

The product assessment report for the Fund can be found under the “Funds Research”/“Alternative Fund Reports” section of our website.

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