Management

The Company’s investment strategy is implemented by the Manager.

The Manager is a specialist equity manager that was established in January 2000 through a joint venture between Perennial Investment Partners Limited (PIPL), a wholly owned subsidiary of IOOF Limited, and Perennial Value investment staff and is led by John Murray. The Manager holds an Australian Financial Services Licence (AFSL) 247293. Executives of the Manager hold a 50% interest in the Manager and are represented by 3 out of the 4 directors on the Manager’s board.

Perennial Value Management manages approximately $7.7 billion (as at 31 October 2015) on behalf of institutional and retail clients. Perennial Value’s sole focus is to deliver consistent returns over time to investors with excellence in funds management through equity ownership and the alignment of interests between key investment management staff and its clients.

As a signatory to the United Nations backed Principles for Responsible Investment, the Manager has incorporated Environmental, Social and Corporate Governance (ESG) principles into its investment processes.  

John Murray

John Murray established Perennial Value in 2000 and has some 29 years industry experience. He is one of Australia’s most respected value investors and has built a stable team of investment professionals who have consistently delivered good results for investors. Under John’s leadership, funds under management have grown from $40 million in 2000 to approximately $7.7 billion (as at 31 October 2015) and Perennial Value has won a number of prestigious industry awards and accolades. Prior to establishing Perennial Value, John was the Investment Director, Australian Shares at Westpac Investment Management, and a Senior Portfolio Manager at Maple-Brown Abbott and the Head of Australian Equities at Perpetual Investments. John commenced his career with Price-waterhouse-Coopers, where he qualified as a Chartered Accountant.

In October 2014, John was inducted into the Australian Fund Managers Hall of Fame. He holds a Bachelor of Arts in Accounting from the University of Canberra. 

Dan Bosscher

Dan is a Portfolio Manager. He joined Perennial Value in August 2012 after 15 years at UBS Investment Bank where he held the position of Managing Director – Head UBS Fundamental Investment Group. In this role, Dan managed a seven person team investing as a multi-strategy hedge fund in the Australian market. His responsibilities included the overall risk management of the portfolio using various derivative structures and strategies including long/short, risk arbitrage, quantitative, convertible bond arbitrage and derivative overlay. Prior to this, Dan held a number of roles with UBS including Co-Head Equity Trading and Derivatives. Prior to this management role, Dan was a registered derivative market maker on both the ASX equity option and Sydney Future Exchange futures floors. Dan holds a Bachelor of Commerce and a Bachelor of Laws (Honours) from Bond University.

Dan is the dedicated Portfolio Manager responsible for the Company and the dynamic protection strategies, in addition to his investment management responsibilities for a portfolio of stocks within the Company. Dan is expected to spend 80% to 100% of his time on the Wealth Defender strategies managed within Perennial Value Management. He has more than 18 years buy and sell side experience managing Australian equity portfolios as well as hedge fund and derivative strategies for investment banks and asset managers. He is also a member of the ASX Exchange Traded Options (ETO) Advisory Committee.

Grant Oshry

Grant Oshry is a Senior Small Cap Portfolio Manager/Analyst and heads up Perennial Value Small Caps. Prior to joining Perennial Value in May 2003, Grant held the position of Manager in the Unit Pricing and Distribution Division of MLC Limited. Previously, Grant was an Equities Dealer and Small Cap Analyst at Deutsche Asset Management in South Africa. He also qualified as a Chartered Accountant at Arthur Anderson in South Africa, while working in their Auditing Division. Subsequent to immigrating to Australia, Grant re-qualified as an Australian Chartered Accountant and is a member of the Institute of Chartered Accountants in Australia. Grant’s core responsibility is managing the smaller company funds and researching small capitalisation industrial stocks. Grant holds a Bachelor of Accounting (Honours) and a Bachelor of Commerce. He is also a Chartered Accountant and a Certified Management Accountant (UK).

Andrew Smith

Andrew Smith is a Small Cap Portfolio Manager/Analyst. Prior to joining Perennial in 2008, Andrew was Head of Research at Linwar Securities, a boutique broker specialising in smaller company research. Andrew joined Linwar in 2003 and during this time he has gained a deep understanding of stocks across the small cap spectrum. Prior to this, he worked at Tyndall in their graduate program, where he gained experience across a number of functions including accounting, product development and stock analysis. Andrew attained First Class Honours in Finance while achieving his Bachelor of Commerce degree at Sydney University.

Stephen Bruce

Stephen Bruce joined Perennial Value in April 2000. In 2011, he was promoted to Portfolio Manager and has research responsibility for the banking, healthcare, telecommunications, chemical and agricultural sectors. Prior to this he commenced his career as a Chartered Accountant with KPMG in Sydney and has held financial accounting roles with Morgan Stanley and Deutsche Bank in London. Stephen holds a Bachelor of Economics from the University of Sydney and a Master of Commerce from the University of New South Wales. He is a Chartered Accountant and also a CFA charter holder.

Scott Stewart

Scott Stewart is a Portfolio Manager in the Perennial Value Wealth Defender Team and joined Perennial in July 2014 from ANZ Banking Group. In his role as Senior Trader – Global Equities, Scott was responsible for managing a portfolio of global vanilla and exotic derivatives and options across regional equity markets in Australia, Europe, Asia and the USA. Prior to this he was Executive Director – Head of Equity Derivatives Trading at UBS Investment Bank. Scott holds a Bachelor of Commerce and a Bachelor of Laws from Monash University. He is also a member of the ASX Exchange Traded Options (ETO) Advisory Committee.

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