Perpetual has announced the resignation of portfolio manager Jack Collopy, who will leave Perpetual at the end of June after almost 22 years with the business.
First joining Perpetual in 2001 as an equity dealer, Mr Collopy took on portfolio management responsibilities in 2010 and has run the microcap fund since its inception in 2013.
Speaking on Mr Collopy’s resignation, Perpetual Australia’s chief executive, Amanda Gillespie, said: “Jack has made an outstanding contribution to the business throughout his time at Perpetual.
“His investment performance has been strong, and he leaves the team in a very good position to continue providing quality outcomes for our clients. We wish him all the best in the future.”
Following the announcement, Alex Patten and James Rutledge will take over the small and microcap strategies as co-portfolio managers.
Within the roles, Mr Patten and Mr Rutledge will be supported by two small cap analysts as part of the Australian equities team, as well as research coverage from the wider analyst team.
Commenting on the internal appointments, Ms Gillespie said, “Perpetual has a long and proud history of succession planning and promoting from within”.
“Both Alex and James had been promoted in recent years in anticipation of leadership roles within the business, and we are extremely confident that they will move seamlessly into their roles as co-PMs.”
Mr Patten, who has been deputy portfolio manager of the small cap strategy for more than two years, has worked very closely with Mr Collopy in portfolio management.
Cumulatively, Mr Patten also spent eight years as part of Perpetual’s investment team, working across equities and corporate finance analysis, later being appointed deputy portfolio manager in 2021.
Moreover, Mr Rutledge has been working on the Pure Value Share Fund in various portfolio management roles for almost four years and has more than 16 years of industry experience.
Before joining Perpetual in May 2017, Mr Rutledge spent seven years at Morgan Stanley.
Also, as part of the announcement, Perpetual revealed the addition of Jakov Males, previously UBS head of Australian equities, who joined the team as a senior analyst in mid-April.
“Momentum is strong, and the team is fully focused on continuing to providing quality investment outcomes for our clients,” Perpetual said.
According to the firm, its Australian equities team now includes seven portfolio managers and nine analysts.
