Perpetual Limited

Equities

PPT

AU000000PPT9

Investment Management & Fund Operators

Delayed Australian S.E. Other stock markets 10:29:36 2024-05-21 pm EDT			5-day change	1st Jan Change
22.38 ^AUD	-0.36%		+0.31%	-12.21%

May. 09	Perpetual Equity Investment Says Not Expected to Be Impacted by Perpetual Ltd. Strategic Review	MT
May. 09	Jarden Adjusts Perpetual Price Target to AU$24.55 from AU$26.50, Keeps at Overweight	MT

Perpetual : FY23 Annual Report

September 14, 2023 at 06:51 pm EDT

Annual Report 2023

Enduring Prosperity

Perpetual Group Annual Report 2023

Perpetual Group1 has a strong heritage in Australia, operating since 1886 where it began as a trustee company for individuals.

Our Group	Our purpose
Perpetual Limited (Perpetual) is	To create
an ASX-listed company (ASX: PPT)	enduring
headquartered in Sydney, Australia,	prosperity
providing asset management, wealth
management and trustee services
to local and international clients.

1. Perpetual Limited and its subsidiaries.

About Perpetual Group		Directors' Report		Operating and Financial Review		Financial Report				1

Our values

Excellence,

Integrity,

Partnership

About Perpetual Group		2

Group at a glance	2
Chairman's Report	6
CEO's Report	8
Strategy update	11
Business division updates	12
Sustainability at Perpetual Group	18


Directors' Report			22

Directors' Report	22
Remuneration Report	30
Operating and Financial Review		71

Operating and Financial Review	71
Financial Report			105

Primary statements	106
Group performance	110
Operating assets and liabilities	120
Capital management and financing	128
Risk management	131
Other disclosures	140
Basis of preparation	159
Directors' declaration	164
Securities exchange and investor information	174

Acknowledgement of Country

Perpetual acknowledges Aboriginal and Torres Strait Islander peoples of this nation. We acknowledge the Traditional Custodians of the lands on which our company is located and where we conduct our business. We pay our respects to ancestors, Elders, past and present. Perpetual is committed to honouring Aboriginal and Torres Strait Islander peoples' unique cultural and spiritual relationships to the land, waters and seas and their rich contribution to society.

Reporting suite

Perpetual Group presents its 2023 Annual Reporting suite for the year ended 30 June 2023.

Visit perpetual.com.au/shareholders/reports-and-presentationsfor more.

	Corporate
Annual	Governance
Report	Statement

	Perpetual Limited	Sustainability
Annual Report 2023
Enduring Prosperity	Corporate	Report
	Statement
	Governance
	For the Year Ended 30 June 2023

Sustainability Report 2023

Enduring Prosperity

2		Perpetual Group Annual Report 2023

Perpetual Group at a glance

Today, Perpetual Group consists of 11 brands across three distinct businesses: Asset Management, Wealth Management and Corporate Trust. Through these businesses, we aim to protect and grow our clients' wealth, knowing that by doing so we can make a difference in their lives. Our clients include Australian and international institutions, not-for-profit organisations, private businesses, financial advisers, individuals and families.

Asset Management

A global multi-boutique asset	Office locations
management business offering	We have a growing global footprint, underpinned by our recent
an extensive range of specialist	acquisition of asset management business, Pendal Group, that spans
investment capabilities through	Australia, Asia, Europe, the United Kingdom and United States.
seven boutiques and brands in
key regions globally.
Read more about
Asset Management on page 12

Americas	UK & Europe	Asia
Boston	Amsterdam	Hong Kong
Chicago	Dublin	Singapore
Dallas	Edinburgh
New York	London
Philadelphia	Munich
Richmond	Paris
San Francisco

Perpetual Trillium Barrow Hanley Pendal J O Hambro Regnan TSW

About Perpetual Group		Directors' Report		Operating and Financial Review		Financial Report				3

Wealth Management1

The Wealth Management business consists of Perpetual Private and three other distinct specialist businesses (Fordham, Priority Life and Jacaranda), offering a unique mix of wealth management, specialised financial advice and trustee services.

Latest news about Perpetual Limited

Perpetual Equity Investment Says Not Expected to Be Impacted by Perpetual Ltd. Strategic Review	May. 09	MT
Jarden Adjusts Perpetual Price Target to AU$24.55 from AU$26.50, Keeps at Overweight	May. 08	MT
KKR to Acquire Perpetual's Wealth Management, Corporate Trust Businesses for $1.43 Billion in Cash	May. 08	MT
KKR to buy Perpetual's corporate, wealth units for $1.4 billion; CEO Adams to retire	May. 07	RE
Australia shares tick higher as investors assess c.bank policy stance	May. 07	RE
Perpetual to Sell Wealth Management, Corporate Trust Businesses to KKR for AU$2.2 Billion	May. 07	MT
Transcript : Perpetual Limited - Special Call	May. 07
KKR affiliate to acquire 2 units of Australia's Perpetual for $1.4 bln	May. 07	RE
KKR & Co. Inc. agreed to acquire Wealth Management and Corporate Trust businesses of Perpetual Limited for AUD 2.1 billion	May. 07	CI
Perpetual to be broken up with name being sold to KKR in nearly $1 billion deal, AFR reports	May. 07	RE
Perpetual Corporate Trust and Wealth Reportedly to Lure $2 Billion from KKR	May. 01	CI
Perpetual Warns Against Speculation Regarding Potential KKR Transaction	May. 01	MT
Perpetual Confirms Talks with KKR	Apr. 30	CI
Perpetual in Exclusive Talks with KKR for Potential Transaction	Apr. 28	MT
Perpetual in talks with KKR for corporate trust and wealth management unit sale	Apr. 28	RE
Perpetual's Assets Under Management Rise 6% in March Quarter; Shares Down 3%	Apr. 23	MT
KKR, Perpetual Reportedly Discuss Buyout	Apr. 22	CI
PRM Services LLC canceled the acquisition of remaining 88.54% stake in Sierra Rutile Holdings Limited from Samuel Terry Absolute Return Fund managed by Samuel Terry Asset Management Pty Ltd, Perpetual Limited, Ecsson Investments Limited, Rockbridge Overseas Limited, Mano Mining And Logistics Limited, Assaad Yazbeck and Joseph Yazbeck.	Apr. 07	CI
PRM Services LLC made an offer to acquire remaining 88.54% stake in Sierra Rutile Holdings Limited from Samuel Terry Absolute Return Fund managed by Samuel Terry Asset Management Pty Ltd, Perpetual Limited, Ecsson Investments Limited, Rockbridge Overseas Limited, Mano Mining And Logistics Limited, Assaad Yazbeck and Joseph Yazbeck for AUD 35.7 million.	Mar. 19	CI
More Private Equity Firms Reportedly Keen on Perpetual's Trust Unit Sale	Mar. 14	CI
Jarden Research Adjusts Perpetual Limited’s Price Target to AU$26.90 From AU$27.50, Keeps at Overweight	Feb. 28	MT
Perpetual Posts 69% Surge in H1 FY24 Operating Revenue; EPS Contracts; Shares Dip 3%	Feb. 27	MT
Transcript : Perpetual Limited, H1 2024 Earnings Call, Feb 28, 2024	Feb. 27
Perpetual Posts 69% Surge in H1 FY24 Operating Revenue; EPS Contracts	Feb. 27	MT
Perpetual Limited Reports Earnings Results for the Half Year Ended December 31, 2023	Feb. 27	CI

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Company Profile

Perpetual Limited is a financial services company operating in the asset management business, wealth management and trustee services businesses. The Company operates through four segments: Asset Management, Wealth Management, Corporate Trust, and Group Support Services. Asset Management segment is engaged in the global multi-boutique asset management business offering a range of specialist and differentiated investment capabilities through seven boutique brands in key regions globally. Wealth Management business offers a mix of wealth management, advice and trustee services to individuals, families, businesses, not-for-profit organizations, and Indigenous communities throughout Australia. Corporate Trust business is a provider of fiduciary and digital solutions to the banking and financial services industry in Australia and Singapore. The business units are supported by Group Support Services comprising group investments, finance, corporate affairs, marketing, and more.

Sector

Investment Management & Fund Operators

Calendar

2024-08-20 - Q4 2024 Earnings Release (Projected)

Related indices

S&P/ASX 200

More about the company

Income Statement Evolution

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Ratings for Perpetual Limited

Trading Rating

Investor Rating

ESG Refinitiv

A-

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

22.46 AUD

Average target price

25.93 AUD

Spread / Average Target

+15.45%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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