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Australian Investment Blog

ASX:PPT 24/05/2018

Perpetual (PPT) has fallen almost 30% since February

Stock

Perpetual (PPT) $39.62 as at 24/05/18

Event

PPT has fallen almost 30% since its February high above $55. The wealth manager has had a torrid few months like most of the sector however like AMP, the vertically integrated model of advice and product manufacturing / funds management has thrust the company into the spotlight for all the wrong reasons. The concern is that regulators will put in legislation that negatively impacts this sort of business model – an obvious risk for both AMP, PPT and others.

Market Matters Take/Outlook

The share price has broadly tracked that of AMP while perpetual has not suffered the same reputational damage.
  • We would have interest in PPT if aggressive EOFY selling takes the stock down towards ~$36.
Perpetual (PPT) Chart

By james Carter
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