Skip to content

Australia’s Watchdog Freezes Two Perpetual Funds Over High Risks

The Australian Securities & Investments Commission has moved to freeze two funds run by one of Australia’s largest wealth managers Perpetual Ltd., citing elevated risks embedded in both funds.

ASIC on Friday issued “interim stop orders” to stop Perpetual Investment Management Ltd. from offering or distributing its Perpetual Pure Microcap Fund and its Perpetual Geared Australian Share Fund to retail investors. Perpetual confirmed the order in a statement.