Speaking to InvestorDaily, Perpetual chief executive Geoff Lloyd conceded his company had not distributed its funds well in the past.
As part of the Transformation 2015 program, initiated in June 2012 following Mr Lloyd's appointment in February 2012, Perpetual has been targeting the changing face of financial services gatekeepers – in particular, the model portfolios of the big four banks, AMP and IOOF.
Perpetual has built a team that is focused on gaining access to the model portfolios of the big institutions, said Mr Lloyd.
As a result, the company’s funds have been added to 14 model portfolios since June 2012 – as well as 12 financial adviser approved product lists (APLs), he said.
In the last quarter, Perpetual’s SHARE-PLUS Long-Short fund was added to the APLs of FSP, RI Advice and Millennium3.
The fund has also been added to the model portfolios of Lonsdale Financial group and Lonsec since September last year.
Perpetual has also increased its funds under management (FUM) to $30.4 billion, up 9.4 per cent since 30 December 2013.
The increased FUM includes $1.3 billion from The Trust Company acquisition, which was completed in December 2013.
Perpetual is leveraging the experience it has in place from the Transformation 2015 to oversee the integration of The Trust Company, said Mr Lloyd.
“Since my appointment I’ve changed executive team and that team has quite considerable experience in M&A and integration,” he said.
“We are now able to integrate The Trust Company into the broader Perpetual business and our first priority is to protect our clients and our staff and the brands,” said Mr Lloyd.
In the “medium to long term” The Trust Company’s branding will change to Perpetual, he said.
