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Pendal agree acquisition proposal from Perpetual

An important announcement to clients from J O Hambro's CEO (UK, Europe & Asia) Alexandra Altinger

I wanted to share a significant announcement today regarding our parent company Pendal.

Pendal has been the sole shareholder of J O Hambro Capital Management (J O Hambro) since their acquisition of our business in 2011. Over the last 11 years they have contributed to our successful growth in AUM by supporting the addition of new investment capabilities and the development of our distribution footprint. This morning Pendal announced to the ASX that it has agreed to proceed with a proposal by Australian fund manager Perpetual for the acquisition of 100 per cent of Pendal’s business.

This follows an announcement in July that both companies had entered discussions regarding a potential transaction.

You can read today’s Pendal’s ASX statement here and Perpetual's here.

The proposal, which is subject to shareholder approval, follows extensive engagement between Pendal and Perpetual. The investment teams and senior leadership within J O Hambro and Regnan are supportive of the proposal given Perpetual’s commitment to preserve the independence and autonomy of our fund managers and their desire to continue supporting our brands J O Hambro and Regnan.

We believe the proposal will be beneficial to us and our clients through the creation of a stronger parent group. Having this will allow us to invest in key growth areas and offer greater scale across client service, distribution and technology.

Pendal shareholders are expected to meet in December to vote on the transaction.

In the meantime, I want to assure you little will change, namely:

  • Both our J O Hambro and Regnan brand identity and boutique culture will remain in place and unchanged.
  • Our investment strategies and processes will remain the same and unchanged.
  • Our client services and sales team will remain the same and unchanged.

In coming days and weeks, you will hear more from our portfolio managers and investment teams.

In the meantime, I thank you for your support and trust.

Please do not hesitate to contact your J O Hambro representative if you would like to discuss further.

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