Perennial Partners takes over Australian Unity fund

Perennial Partners has agreed with Australian Unity Funds Management Limited (AUFM) to take over the investment management of the latter's Future of Healthcare Fund.

AUFM will also step down as trustee of the fund, with Perennial taking over as trustee.

The fund's managers, Victor Windeyer and Sam Walker, will move to Perennial and maintain their roles managing the Future of Healthcare Fund portfolio, adhering to its established investment objectives.

"We are delighted to welcome investors in the Future of Healthcare Fund to the Perennial family and want to reinforce to them that all the necessary resources will continue to be committed to the management of the Fund to ensure that investment opportunities in the healthcare sector can be captured," Perennial Partners executive chair Anthony Patterson said.

"In particular, with fund managers Victor Windeyer and Sam Walker joining the Perennial team, continuity of management and investment strategy is ensured. Victor and Sam will be able to leverage from the substantial private markets deal flow that Perennial already enjoys which will benefit investors in the Future of Healthcare Fund."

The Future of Healthcare Fund was established by Australian Unity to invest in emerging and innovative healthcare businesses and assets that address future healthcare needs and to deliver long-term capital growth to investors. Its portfolio includes Australian and global listed and unlisted companies in the pharmaceutical, life sciences, biotechnology, and medical device sectors.

Australian Unity executive general manager of social infrastructure Ryan Banting said Perennial is a highly regarded investment manager and the support it provides to specialist investment teams will enable the Future of Healthcare fund to continue to realise opportunities and build scale.

"Australian Unity is proud of the solid foundation we've established for the Future of Healthcare Fund over the past four years and its strong performance track record. While we're transferring management rights to Perennial, Australian Unity remains a significant investor in the fund and we look forward to its next stage of its growth," he said.