Morningstar trims Australia's Perpetual fair value on heavier near‑term fund outflows

Perpetual

23/04/2026 20:59

** Morningstar trims fund operator Perpetual's PPT.AX fair value as heavier near‑term redemptions impact growth of funds under management over the forecast period

** Cuts fair value to A$19.50 from A$20.30 after FUM slipped ~1% YoY in March quarter, with redemptions modestly exceeding expectations due to market volatility

** Says persistent outflows point to weak performance track record, with redemptions concentrated in acquired global equity boutiques, while legacy Australian equities and fixed income continue to attract inflows

** Expects outflows to persist for 5 years, but sees the risk as embedded in forecasts

** Stock down 13.1% YTD

($1 = 1.4023 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))