Founder of Concise AM joins Perennial Value

Perennial Value Management (Perennial Value) has announced the appointment of Andrew King as a mid-caps portfolio manager with the firm.

King is co-founder of boutique equities investor, Concise Asset Management, where he has been a portfolio manager since 2007. Prior to this, he worked as a portfolio manager at Paradice Investment Management and Investors Mutual. King will join Perennial Value in mid July 2018, bringing over 21 years' experience to the firm.

King's appointment is one of several announced changes to Perennial Value's portfolio management team. Other changes include the promotion of Stephen Bruce to director of portfolio management; the promotion of Damian Cottier to portfolio manager in the firm's broader cap portfolios; and added responsibilities for Andrew Smith, head of small and micro companies, who will take responsibility for co-ordination of the stock research effort across the Perennial group.

The changes are part of a strategic process that will see Perennial Value founder and managing director, John Murray, step down from day-to-day portfolio management responsibilities over the next 12 to 18 months. Murray will, however, remain as managing director of Perennial Value.