Perpetual Ltd

PPT: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$36.40	Dkppm	Ljwrgglfs

Perpetual’s Investor Day Digest: Wider Distribution, Improved Performance, Better Growth Prospects

Adam Fleck , Shaun Ler

Dec 9, 2020

Narrow-moat Perpetual says it’s not the same struggling asset manager as in fiscal 2019, dedicating its 2020 investor day to its asset management growth plans. The firm aims to broaden distribution to boost inflows, notably to the recently acquired Trillium and Barrow Hanley, or BHMS, businesses. Priorities remain growing its offshore distribution team, client diversification, growing its product suite, and connecting with more asset consultants and research houses. Not much surprised though and our AUD 38.50 fair value estimate is retained.

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