Speaking at the Perpetual results announcement in Sydney, Perpetual chief executive Geoff Lloyd said there was a 34 per cent increase in profit from the previous financial year.
“There was strong momentum in all our core activities with all the businesses delivering double-digit growth in funds under management, funds under advice and funds under administration,” said Mr Lloyd.
Mr Lloyd said the acquisition of the Trust Company in December 2013 is expected to generate synergy benefits of around $18-20 million for Perpetual.
He said the acquisition will see Perpetual Private gain greater scale and capability over 2015.
“The Trust Company acquisition has also diversified and strengthened Perpetual Corporate Trust,” he said.
Mr Lloyd also announced the launch of the Perpetual Global Share Fund, which he said will meet the increasing demand from clients for global equities.
“Global equities is a natural and logical extension of our highly regarded and successful Australian equities investment business and our launch follows an incubation period of three and a half years in which the fund has outperformed its benchmark significantly,” he said.
According to Perpetual, the investment objective of the fund is to provide investors with long-term capital growth and income through investment in quality global shares and to outperform the MSCI World Net Total Return Index.
Perpetual Investments group executive Michael Gordon said the fund has performed well during incubation, delivering gross returns of 22.9 per cent over the past three years to 30 June 2014, 6.3 per cent above the benchmark.
