PVSWT is a value oriented, ESG aware Australian equities fund. The fund has a broad-cap focus and leverages the 20-strong Perennial Australian equities research team to identify opportunities across the full spectrum of large, mid, and small cap companies.

The trust has been upgraded by Lonsec from Investment Grade to Recommended. Lonsec’s conviction has increased and is underpinned by the quality and substantial experience of the tripartite portfolio management team, boasting an average experience of 22 years.

Stephen Bruce, Lead Portfolio Manager for PVSWT, said: “We are delighted to have received this rating from Lonsec for our flagship wholesale trust. Our approach has been proven throughout multiple market cycles, and we look forward to building on our 20-year track record. We are particularly excited by the opportunities being presented for fundamental-based investors to add value in the current market environment.”

As at September 2021, the Perennial Value Australian Shares strategy has delivered annualised performance of 9.5% since inception, net of fees.

Lonsec noted the well-resourced and highly experienced investment team, full coverage of the Australian market and “robust and repeatable” investment process.

PCAST, which is available to retail investors, received its first Lonsec rating.

Launched in 2017, the trust invests in a concentrated portfolio of 15-30 companies listed on the ASX, and also employs Perennial Value’s specialist value focus.

Dan Bosscher, PCAST Portfolio Manager, said: “We are pleased that PCAST has received this Recommended rating in its inaugural review by Lonsec. We believe the trust is well positioned to benefit from the post-COVID economic recovery – an environment that offers the potential for significant outperformance for value style investing.”

In its review of the trust, Lonsec said Perennial Value  exhibited many of the characteristics that Lonsec sought in a ‘boutique’ investment manager, including “equity ownership by the investment team, a strong alignment of interests and an investment-oriented culture.”

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Bruce, who has been with Perennial Value since its inception in 2000, has previously held several portfolio management positions, including as co-portfolio manager to company founder John Murray in Perennial Value’s Australian Share Trust.

Bruce is lead portfolio manager for Perennial Value’s Shares for Income Trust and its recently launched eInvest Income Generator Fund. In his new role, Bruce will be responsible for the management of all broader cap Australian equities portfolios within the Perennial Value business.

Andrew King also joins the Perennial Value team as Mid-Caps Portfolio Manager.

King was a Founder and Director of Investments at Melbourne-based equities investor Concise Asset Management and previously held roles at Paradice Investment Management and Investors Mutual. He will join Perennial Value in mid-July 2018 and will assume portfolio management and analytical responsibilities for the firm’s forthcoming dedicated mid-caps capability.

Additionally, Andrew Smith who joined Perennial Value in 2008, is Head of Small and Micro Companies and manages the firm’s Smaller Companies Trust and Microcap Opportunities Trust.

In the changes being announced today, Smith will take responsibility for co-ordination of the stock research effort across the Perennial group, co-ordinating its analyst and research team to ensure quality investment opportunities are identified and reflected in clients’ portfolios.

Finally, long-term Perennial Value employee Damian Cottier has been promoted to the role of Portfolio Manager in the firm’s broader cap portfolios. Cottier joined Perennial Value in 2002 and has held a number of roles across dealing, research co-ordination, analysis and most recently as Portfolio Manager within the firm’s micro caps capability. His new role will see him provide a key pivot point linking Perennial Value’s smaller and larger capitalisation businesses.

The changes form part of a strategic transitional process in the management of Perennial Value’s large cap Australian share portfolios, which will see Perennial Value Founder and Managing Director John Murray gradually step down from day-to-day management responsibilities for these portfolios.

The transition, which has been long planned by the business and is expected to occur in an orderly fashion over the next 12-18 months, will see Murray remain as Managing Director of Perennial Value and continue to contribute his insights and perspectives to the investment management team.

Perennial Value Director Anthony Patterson said the changes would provide further opportunity, responsibility and career advancement to the senior investment executives of the business.

“Perennial Value has been focussed on succession planning and building depth across our 16-member investment team for many years. In addition to addressing our succession plan for John, the Board is taking the opportunity to position Perennial Value for the future,” Patterson said.

“Perennial Value recognises that investors’ needs are evolving and that we must ensure we are well positioned to adapt, whilst meeting the core objective of our firm – to deliver outcomes that exceed our investors’ expectations.

“Our future, supported by the appointments announced today, sees us renew our commitment to being recognised as the leading value manager in the Australian market.”

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