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Perpetual raises $150m for LIC

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By Reporter
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2 minute read

Perpetual’s first listed investment company (LIC), the Perpetual Equity Investment Company (PIC), has raised over $150 million.

The launch of the LIC was first announced by the investment services group back in September this year.

Perpetual said the LIC has received strong interest from self-direct investors, brokers and advisers since opening on 21 October.

The offer will close in just over a week, with the fund set to be listed on 12 December.

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Perpetual portfolio manager Vince Pezzullo said he is already assessing investment opportunities in preparation for PIC’s listing.

“PIC generally expects to release to the ASX the net tangible asset backing of its shares as at the end of each business day within two business days, offering investors added insights and transparency,” said Mr Pezzullo.

The LIC has been included on a number of major wrap platforms and dealer group approved product lists, according to Perpetual.

Perpetual said the LIC has received a recommended rating from both Lonsec and Zenith.