Listed fund manager Perpetual is shutting down two well-known funds, and parting ways with two high-profile fundies.
Perpetual is shutting down two well-known funds – and parting ways with Pendal’s head of global equities, Ashley Pittard, as well as technology portfolio manager Thomas Rice, sources said.Pittard, who runs the $600 million odd Pendal Concentrated Global Share Fund, will hand over the assets to Barrow Hanley at end of October after which he and senior analyst Sue Scott will exit the business.
His exit is a replay of 2020, when Perpetual said goodbye to its global equities portfolio manager Garry Lawrence after it bought Barrow Hanley. This year, Perpetual is trying to digest another big acquisition, Pendal.
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