News Round Up

Perpetual Investments in Australia has moved to reassure investors that the loss of its star manager, Peter Morgan, isn't a negative.

Morgan, who manages shares at Perpetual, last week announced that he was leaving the firm after 12 years service.

John Sevior has been appointed head of equities with immediate effect. Sevior has been with Perpetual for eight years and managing portfolios since 1995. For the past four years he and Morgan have jointly managed the Industrial Share Fund and their performance has been consistently above benchmark.

Perpetual says investment style is not dependent on any one person. The investment process has been successful for many years and will remain unchanged.

"We are confident that the transition will not adversely affect our performance," Perpetual says.

People who attended the FPIA's recent roadshow and subscribed to Asset magazine went into a draw to win a Palm m105.

Advanced streams offered
Have you signed up for the FPIA 2003 Convention in Rotorua yet? The Convention's theme is Facing Change. It will have eight keynote speakers, and an increased number of workshop sessions.

One of the new developments is that two additional workshop streams are being added for more experienced advisers, these are Advanced Risk Management and Advanced Financial planning. There will be other workshops including a stream on practice management.