Perennial portfolio manager leaves industry

A senior portfolio manager at Perennial Value Management stepped down from his role and has retired from the industry.

Tony Oesterheld joined Perennial in 2007, taking research responsibility for the Tony Oesterheld steels, utilities, building materials, miscellaneous industrials and diversified financials sectors.

Before that, he was head of AMP's Value Plus team, and has also held roles at GIO Asset Management and QBE Insurance.

Oesterheld departed late last year. Since then, the group announced its partnership with Mark Mitchell to launch specialist income boutique Daintree Capital.

Of the new firm, Perennial chair Anthony Patterson said: "Perennial will be running the back-office and distribution functions of Daintree, allowing it to stay wholly focused on gaining the best risk-adjusted returns for investors."

"We look forward to supporting Mark, Justin and the Daintree Capital team in building their business and running a successful portfolio for our investors .They are successful credit and income specialists and we believe they have a very bright future."

Read more: Daintree CapitalPerennial Value ManagementTony OesterheldAnthony PattersonGIO Asset ManagementJustinMark MitchellQBE InsuranceValue Plus
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