Perennial Value appoints Director of Portfolio Management

Perennial Value Management (Perennial Value) has announced the appointment of Stephen Bruce as director of portfolio management. His promotion is part of several changes made to the portfolio management team, which the firm said will "provide further opportunity, responsibility and career advancement to the senior investment executives of the business".

Bruce, who has been with Perennial Value since its inception in 2000, has previously held several portfolio management roles with the firm, including as co-portfolio manager to company founder John Murray in Perennial Value's Australian Share Trust.

Currently, Bruce is the lead portfolio manager for Perennial Value's Shares for Income Trust and its recently launched eInvest Income Generator Fund. In his new role, he will be responsible for the management of all broader cap Australian equities portfolios within the Perennial Value business.

Bruce will be joined by new hire Andrew King, who is to start in his role as mid-caps portfolio manager in mid-July 2018.

Other changes announced within Perennial Values' portfolio team include the promotion of Damian Cottier to portfolio manager, and added responsibilities for Andrew Smith, head of small and micro companies, who will take responsibility for coordination 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 away from day-to-day portfolio management responsibilities over the next 12 to 18 months. Murray will, however, remain as managing director of Perennial Value.