Perpetual's client win offsets outflow

The fund manager has reported another net outflow for the September quarter, but it's balanced by news of a new mandate.

We weren’t the only ones to be caught on the hop by GBST’s profit warning last week. Perpetual increased its holding from 5.6% to 9.2% in August at prices between about $4.60 and $4.90 – stock that’s now changing hands for around a dollar less. It’s interesting to see that the fund manager’s reaction has been similar to ours, increasing its stake to 10.5% on the day of the warning.

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