Perennial Value has hired boutique equities fund manager Concise Asset Management co-founder Andrew King as portfolio manager.
In a statement, Perennial Value announced Concise Asset Management co-founder and director of investments Andrew King will join Perennial Value as a mid-cap portfolio manager in mid-July.
In the new role, he will hold portfolio management and analytical responsibilities.
Before establishing Concise Asset Management in 2007, Mr King was a senior portfolio manager at Paradice Investment Management. Prior to that, he held the same role at Investors Mutual for six years.
Perennial Value also announced in the statement that portfolio manager Stephen Bruce had been internally promoted to director of portfolio management.
Mr Bruce joined the firm at its inception in 2000 and is the lead portfolio manager for a number of funds at Perennial.
He will manage Perennial’s broader cap Australian equity portfolios in his new role.
Perennial Value director Anthony Patterson said the changes would provide career advancement opportunities to investment executives.
“The board is taking the opportunity to position Perennial Value for the future,” Mr Patterson said.
“Our future, supported by the appointments announced today, sees us renew our commitment to being recognised as the leading value manager in the Australian market.”
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