Perennial gains AvSuper mandate

Perennial Growth Management has picked up an important new mandate from aviation-based superannuation fund, Avsuper.

The $50 million mandate will see Perennial handling a portion of Avsuper’s Australian equities portfolio following a review conducted earlier this year.

AvSuper chief executive officer, Leeanne Turner said the appointment of Perennial Growth had followed an extensive review within which the fund had changed its manager line-up.

“We are confident we have the right mix of quality managers to take us forward,” she said.

Head of Perennial Growth Management, Lee Mickelburough said he was delighted with the appointment which he believed reflected Perennial’s disciplined investment approach.

He said that an important discipline with the Perennial Growth process was to employ a life cycle valuation - a model that took account of competitive forces that might impact on a company’s ability to grow over a full economic cycle.