Perpetual Asset Management

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Comments191

Companies65

Positions opened4

Positions exited7

Last published2 Oct 2026

Companies discussed, last 12 months

56 companies, monthly, latest action on the right

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APZAspen2Held BRGBrevilleHeld PNIPinnacle Investment ManagementHeld CBACommonwealth Bank of AustraliaHeld NCKNick ScaliHeld

51 more companiesEvery company Perpetual Asset Management has discussed in the past year.

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Commentary

DateManagerCompanyActionSummary

2 Oct 2026Perpetual Asset Management APZHeldPerpetual Asset Management nominates Aspen Group as a preferred pick because it owns, develops and operates accommodation assets focused on the affordable end of the market, which the manager believes is less competitive and structurally undersupplied. Perpetual highlights a disciplined management team with a long record of buying land at the right price, which is key to underwriting development margins at lower price points. While exposed to property market sentiment, a large portion of the business is apartment and land lease rentals, which should benefit from reduced supply and rising rents given government policy. An expanding pipeline of approved sites positions Aspen to deliver strong earnings growth through FY27 to FY29.

Article, price recorded $4.49

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2 Oct 2026Perpetual Asset Management BRGHeldPerpetual Asset Management rates Breville Group a hold because, while it views the business and its coffee machines as high quality with consistently positive consumer feedback, the stock is fully priced on a high-20s price-earnings ratio. The manager notes the past 18 months have been tough as tariffs and supply chain relocation pressured gross margins. Perpetual still sees a long growth runway, including the US market where a Best Buy distribution change is performing well, and geographic expansion into China and other markets. It also credits management's long history of reinvesting in marketing, sales and product development for strong, sustainable top-line growth.

Article, price recorded $30.04

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189 more commentsEvery comment this manager has published, with sources.

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About Perpetual Asset Management

Value Focused, All-Cap

Perpetual Asset Management is the funds management arm of ASX-listed Perpetual Limited, one of Australia's oldest and largest independent investment houses, with roots dating back to 1886 as a trustee company. Perpetual runs a broad range of Australian and global equity, fixed income and multi-asset strategies, historically known for disciplined, quality-focused value investing in Australian shares. Following its 2023 acquisition of Pendal Group, Perpetual significantly expanded its scale and product range, adding global equity and fixed income capabilities alongside its traditional domestic strengths. The business serves retail, adviser and institutional clients, and remains recognized for a conservative, research-driven investment culture built over decades.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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