I would not want Pendal to be managing my investments and in their own report they said of themselves that a 'Key Detractor' was their underweight position in ZIP during the 2024 / 2025 year. Now they have made a significant investment they are spruiking an investment in ZIP after it has risen 363%, (but before it gave back 20% more than 1 month after the article was written). And the growth has not yet started!!!!!!!!!!!!!
Pendal's reputation has been negatively impacted in recent times due to several factors:
Significant fund outflows: Pendal experienced substantial net outflows of $4.3 billion in the first half of 2024, a 48% increase compared to the same period in 2023
Underperforming strategies: The company faced challenges in its US and global equities strategies, particularly those managed by J O Hambro Capital Management and TSW
Acquisition concerns: The integration of Pendal into Perpetual Limited has raised questions about its success, with the CEO having to refute claims that the acquisition has been a failure
A favourite for 2024 was Nick Scali
Rachel is trying to get the train back onto the rails
ZIP Price at posting:
$2.94 Sentiment: Sell Disclosure: Not Held
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