Fund manager Perpetual could spin off its corporate trust and wealth management divisions as the company looks to focus on its flagship asset management business.
Pendal has rejected Perpetual’s takeover bid,claiming it undervalues the company,before unveiling a $100 million share buyback and reporting sliding funds under management.
Investors are split on the merits of investing in China amid an unprecedented period of market volatility,triggered by the CCP’s interventionist approach to markets.
Perpetual's CEO says share prices will have to come down to normal levels in the Australian market to improve its performance. But brokers are confident new acquisitions will set the wealth manager straight.