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Perpetual listed investment company launched

Perpetual Investment Management has announced the launch of Perpetual Equity Investment Company Limited - its first LIC.

A Perpetual statement said the new LIC, first flagged last month, is designed to deliver “regular income and long-term capital growth” through investment in Australian listed securities with a mid-cap focus.

“Its structure also offers the flexibility to manage potential equity market risk by moving up to 25 per cent of the portfolio’s net asset value into cash, deposit products and senior debt,” Perpetual said.

Perpetual portfolio manager Vince Pezzullo said the Australian listed securities will be the core of its new LIC’s portfolio.

The LIC has also been “structured to provide flexibility” in how returns are delivered to investors while “effectively managing risk”, Mr Pezzullo said.

He said the LIC’s coverage of “predominately Australian listed securities with a mid-cap focus” and access to global opportunities also offers investors “much needed diversification” – particularly to SMSFs.


Perpetual group executive Michael Gordon said the launch of the new company is about “recognising the changing behaviours” of Australian investors and responding to their needs.

“Investors are seeking transparent, liquid investments as part of a diversified portfolio and this is what we are delivering through [the Perpetual Equity Investment Company],” Mr Gordon said.

The Perpetual Equity Investment Company’s offer period is expected to open on October 21 and close on 28 November 2014, with a minimum raising target of $150 million.