Tide going out at Perpetual

The market is anticipating a successful turnaround but this fund manager is struggling against a tide of fund withdrawals.

Perpetual shareholders might take some comfort from the 5% price rise since the recommendation downgrade of 24 Feb 12 in Doors close on Perpetual (Sell – $24.43). They probably shouldn’t. There was enough in the announcement last week of the company’s third quarter funds under management figures for it to look prescient.

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