MS expects inflows at Aussie asset manager Perpetual to remain robust

Great China Holdings Hong Kong

28/01/2022 04:51

** Morgan Stanley says asset manager Perpetual  PPT.AX  will
benefit from new distribution channels to support investment
flows, as well as ongoing inflows in its wealth business
    ** In a business update on Thursday, PPT forecast H1
underling profit after tax of between A$77 mln-A$81 mln ($54.1
mln-$56.9 mln)  urn:newsml:reuters.com:*:nASX9K8pv7
    ** MS says PPT's forecast modestly ahead of its estimate of
A$76.5 mln, maintains "overweight" rating citing "undemanding
valuation" and potential upside for inflows
    ** Three of nine brokerages rate the stock "buy" or higher,
four "hold" and two "sell"; median PT A$39.30
    ** Up to Thursday's close, stock down 7.5% this year

($1 = 1.4229 Australian dollars)

 (Reporting by Shashwat Awasthi)
 ((Shashwat.Awasthi@tr.com
mailto:Shashwat.Awasthi@thomsonreuters.com))