If history and reputation are anything to go by, then this security will likely trade at a premium to NTA ie Perpetual has nothing to prove. By focussing on ASX mid-caps with lesser (unhedged) exposure to international equities, they appear to be focussed on maximising returns.
(By comparison, the global LICs of MFF and PMC trade at up to 15% premium.)
From a taxation perspective, LICs may provide a superior long-term investment to direct ownership in allowing one to safely defer capital gains events until one enters pension phase, etc.
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Perpetual Equity targets SMSFs in $600m IPO, page-6
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