Perpetual problems are part of a bigger trend where institutional investors,like super funds,are bring more of their investment management in-house.
BlackRock has acquired a 12.5 per cent stake in $1.9 billion Australian equities manager,financial advice,and trustee business Perpetual.
When growth is hard to find companies have looked to cut expenses to maintain profits but market watcher warn that can't go on forever.
Perpetual chief executive and managing director Geoff Lloyd says there's a place both for active stockpickers and index-tracking funds.