Zenith has initiated coverage on the Perpetual Global Share Fund – Class A (APIR: PER0733AU), managed internally by a dedicated global equities team, with a RECOMMENDED rating. Since inception (January 2011), the strategy has been managed by Garry Laurence who has over 11 years industry experience.
The Fund provides investors with a concentrated, value biased, currency unhedged exposure to global equities. Perpetual employs a fundamentally driven, bottom-up research effort to identify investment opportunities.
Zenith’s View
Although Perpetual’s investment process has not historically been applied to global equities on a broader scale, Zenith believes Perpetual’s investment process is conceptually sound, rigorous and repeatable. In addition, Zenith draws further comfort from the oversight of the investment process provided by senior members of Perpetual’s equities team, in particular, Matt Williams, Head of Equities, who we rate highly.
Overall, Zenith has a high level of confidence in Perpetual’s investment process. Zenith believes Laurence is a capable investor and draws confidence from his reasonable, albeit short, performance track record. In addition, Zenith notes that the Fund is managed from the perspective of an Australian investor, which we believe to be a key attraction.
Leave a Comment
You must be logged in to post a comment.