IOOF sells Perennial thorn

This platform administrator and financial adviser has sold part of its underperforming funds management business.

IOOF Holdings has removed a thorn from its side with the sale of Perennial Investment Partners’ Growth and Fixed Interest businesses to Henderson Group for $72m. The funds managed by the Growth business have mostly underperformed their benchmarks, net of fees, in recent years and, while the Fixed Interest business has done better, both have struggled to increase funds under management, while other managers have been making hay. IOOF will, however, retain its 42% holding in Perennial’s ‘value’ business – Perennial Value Management.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles