Important Notice – Change of portfolio manager for the Pendal Multi Asset Funds

Following a review of Perpetual Group’s multi asset capabilities, a decision has been made to combine the Perpetual and Pendal Multi Asset businesses to create one team, the Perpetual Multi Asset Strategies team. The new team will be led by Perpetual’s current Head of Multi Asset, Michael O’Dea.

Michael O’Dea has been appointed as the portfolio manager of the Pendal Multi Asset Funds with effect from 14 March 2024. Michael replaces Michael Blayney as the portfolio manager of these funds.

Why one team?

We are bringing together the Perpetual and Pendal multi asset teams as one enhanced team with greater scale and resources to support better client outcomes. This team will be uniquely placed to build investment solutions to meet emerging client needs by accessing the combined intellectual property and experience of both the Perpetual and Pendal multi asset teams.

Who forms part of the new team?

The new Perpetual Multi Asset Strategies team will consist of nine highly experienced investment professionals with average industry experience of 23 years. Please refer to the link here to view the new team profile.

As a result of the appointment of Michael O’Dea to lead the combined team, Michael Blayney will be leaving the organisation, however he will continue to support the new team in an advisory capacity over the next six months.  

What does this mean for your investments? 

There are no immediate changes to your investments as part of this announcement. The investment approach and asset allocation as stated in the applicable Fund’s product disclosure statement has not changed. 

Pendal’s sustainable investment products will retain their sustainability approach.   

Fees and buy and sell spreads for the Pendal Multi Asset Funds remain unchanged, as a result of the announcement.

The Pendal brand and names of the Pendal Multi Asset Funds remain. 

What do you need to do?

No action is required. You will be able to continue to invest or withdraw in the same way, except for the Pendal Balanced Returns Fund where applications are no longer being accepted.[1]

If you have any questions about your investment or would like further information regarding the changes, please contact our Investor Service Team on 1300 346 821 (for Australian investors) or +612 9220 2499 (for overseas investors) from Monday to Friday, 8.00am to 5:30pm (Sydney time).

[1] For further details see the “Notice of Termination Pendal Balanced Returns Fund“, dated 13 March 2024.