Perpetual’s Multi Asset funds invest across a diverse range of investment opportunities, which can include domestic and global shares, credit and fixed income, cash, property, infrastructure and a range of other investments all combined within a single fund.
We actively manage the asset allocation of our Multi Asset portfolios. In doing so, we seek to reduce the risk of losing capital and capture the rewards of being invested in the right place at the right time.
THE CASE FOR REAL RETURN INVESTING
Real return funds are designed to provide investors with a higher certainty of achieving a real return objective with a lower level of risk and lower sensitivity to extreme market events.
By investing across a broad range of strategies, managers and markets, investment risk may be diversified. Consequently, a Multi Asset portfolio can be more resilient and less affected by weak returns from any one strategy.
Asset allocation can be one of the most significant drivers of overall portfolio returns. A Multi Asset portfolio will have a mix of assets, some of which have low correlations with one another, which can improve risk-adjusted returns.
Risk and return focus
Multi Asset portfolios are designed to achieve a targeted level of risk and return for the investor. Different portfolios can be built to meet an investor’s risk profile, desired return and investment horizon.
'WHOLE OF PORTFOLIO' APPROACH
There are a number of ways we take an integrated approach to managing our portfolios. This includes defining the clear role of each investment in achieving a portfolio’s investment objectives and centrally managing risks at the portfolio level, rather than in isolation.
The senior members of the Perpetual Multi Asset investment team each have over a decade of experience in managing Multi Asset portfolios.
Wide range of investments
The Perpetual Multi Asset team has the expertise to capture a broad universe of investment strategies and the flexibility to implement these strategies through a range of internal and external capabilities.
Active asset allocation
While proprietary models and analytics are important inputs to the active asset allocation process, it is the skill, experience and discipline of the investment team that is critical in capturing the best investment opportunities at the right time.
Quality and value focus
Our overall investment philosophy is focused on quality and value. This belief is also reflected in our Multi Asset approach – we aim to identify the most attractive mix of quality global investment strategies and select leading fund managers to implement them.
At Perpetual our investment philosophy drives our investment decisions. Specific principles guide the way that we seek to identify opportunities and manage our Multi Asset portfolios:
- Markets are semi-efficient and have a tendency to overshoot and undershoot fair value
- Future investment returns are primarily driven by the price you pay, so valuations are critical. This value approach applies when investing in individual securities as well as across asset class opportunities
- We believe that a focus on buying quality investments at attractive prices and diversification across a range of markets, sectors, strategies and sources of returns helps protect our portfolios from losses
- An active asset allocation approach may benefit investors because the manager is able to reduce (or exit) exposure to an asset when its fundamentals are poor or raise exposure when conditions are favourable
- A highly active asset allocation approach requires skill, experience and discipline.
All investments carry risk. While it is not possible to identify every risk relevant to your investment, we have provided details of the risks that may affect your investment in the relevant product disclosure statement (PDS) or offer document.
You can find PDSs and other documents in our resources section. The relevant PDS, offer documents and forms can also be found in the sections below:
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Years of experience: 22
Years at Perpetual: 7
Michael is Head of Multi Asset for Perpetual Investments. In this role he is responsible for the suite of Multi Asset Funds and capital markets research.
Michael joined Perpetual in June 2014 and has 18 years finance industry experience. Prior to joining Perpetual Michael worked at JANA for 13 years, and held a number of positions across research, consulting and portfolio management, including Head of Investments, Implemented Consulting.
Earlier in his career Michael held a variety of positions at UBS, Morgan Stanley and Barclays Capital in both Australia and the United Kingdom.
Michael holds a Bachelor of Business (Economics and Finance) from RMIT University and is a Vincent Fairfax fellow.
Years of experience: 26
Years at Perpetual: 16
Matt Sherwood is Perpetual’s Head of Investment Strategy, Multi Asset. In this role, Matt is responsible for monitoring, analysing and forecasting earnings growth, interest rates, currencies, economic growth and policy implications across major regions.
Matt joined Perpetual Asset Management Australia in 2005 and his viewpoints and analysis of international developments are frequently sought by policymakers, opinion leaders and investors in Australia and Asia. These include television news networks such as Reuters, CNN and Bloomberg in Asia and Sky News, SBS and the ABC in Australia. His opinions have appeared in many newspapers including the Wall Street Journal, Washington Post, the New York Times and Australian Financial Review.
Matt has previously been a panel member which discussed macro issues with the US Federal Reserve on a quarterly basis and has briefed the BIS on several occasions on balance sheet issues facing the global economy. His current research focus is on the global trade war and whether monetary policy can prevent a serious downdraft in growth and regional sharemarkets.
Matt is a published author of the book titled ‘Intelligent Investing’ and began his career as a Senior Economist at the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation and undertook detailed research into the equity risk premium, currency markets and business investment.
Matt has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney. Matthew has also held a lecturing position with Kaplan Education (formally FINSIA) between 1997 and 2010 and has also lectured MBA classes from Case Western Reserve University in the United States.
Years of experience: 39
Years at Perpetual: 6
David Hudson is the Head of Asset Allocation within the Multi Asset team for Perpetual Asset Management Australia. In this role, David is part of the portfolio management team managing all multi asset funds. He is responsible for generating and implementing active asset allocation ideas and the strategic asset allocation of multi asset funds.
David is a proven portfolio manager with almost two decades experience in multi asset portfolio management including 14 years as the lead portfolio manager of diversified funds at BlackRock Investment Management. David has a strong fundamental background in macroeconomics and all asset classes.
David has also held positions as an equity strategist at Bankers Trust Investment Management; fixed income strategist and senior economist at Bankers Trust Investment Bank; and as a senior adviser to the Prime Minister. He started his career as an economist with the Commonwealth Department of Treasury in the early 1980s.
David has an Honours degree in Economics from Adelaide University.
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