Perennial Value Management has announced two internal promotions to its mid-cap and small-cap teams.
Head of small caps Grant Oshry has been promoted to head of mid caps, while small-cap portfolio manager Andrew Smith steps up to Mr Oshry’s former role of head of small caps, according to a statement.
Perennial Value managing director John Murray said both men had “a long history of successful asset management with the firm”.
“Grant has been appointed to head our mid-cap capability after very successfully leading our small caps business since January 2007,” he said.
“Andrew will take over Grant’s role and lead our expansion into micro-cap asset management.
“We believe there are significant niche opportunities for active management in each of the ex-Top 20, small- and micro-cap sectors of the Australian market.”
Mr Oshry will manage part of Perennial Value’s flagship fund Perennial Value Australian Shares Trust in his new role.
“Grant will now expand his portfolio management and analytical responsibilities in the mid cap segment where he already has an extensive knowledge of listed companies, given many have been promoted from the smaller companies’ universe over the years,” Mr Murray said.
He also added Mr Smith had made a “significant contribution” to the record of Perennial Value Smaller Companies.
“The elevation of Andrew to head of smaller companies and micro caps is a natural step and provides him with the opportunity to take on greater responsibility and capitalise on his extensive investment experience for the benefit of investors,” he said.
MLC Life Insurance has appointed Sean McCormack as the chief of its newly created life insurance division in a move it hopes will better mee...