Perpetual has responded to a query from the ASX regarding its price after a stellar week for the investment and trustee group.
Since Monday, Perpetual’s shares have risen by 15 per cent, going from $38.48 last Friday to $42.2 by Monday.
The price jumped raise questions as it seemed to have occurred without without a significant announcement behind it.
In a statement to the ASX, Perpetual said it was unaware of any information that could explain the recent trading.
Perpetual said that it had announced its first half of the financial year results to the market but nothing beyond that.
“PPT announced its 1H19 financial results on 21 February 2019. PPT is developing its strategic priorities and a focus on its next stage of growth and has made disclosure to the market of that fact,” said general counsel and company secretary Eleanor Padman.
Ms Padman said that the company notes that the announcement included an articulation of the chief executive’s direction for the company.
“The CEO commented that management was broadening its approach to the company’s growth agenda and, accordingly, Pepertual Investments would, over time, be open to expanding its focus beyond value investing,” she said.
Pepertual confirmed it was complying with the listings roles and said it was operating in accordance with its continuous disclosure policy.
Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
You can email him on: [email protected]