It will come as a surprise to many that Perpetual Guardian currently has around $2.8 billion in its wholesale funds management business and is looking to enter the retail market.

Gamble, speaking on Good Returns TV, says there are 12 funds including multi-asset funds, single sector ones plus a couple of specialist funds. The specialist funds include a high conviction fund, a BlackRock-managed alternatives fund and a climate fund based on a FTSE index. (https://www.goodreturns.co.nz/article/976522642/pgi-switches-unit-holders-to-climate-indexed-approach.html)

Gamble says PG is “a bit bigger than people realise.”

While the current funds are used for the firm’s fiduciary clients there is demand for them to be made retail, he says.

PG acquired Trustee Executors’ wealth business recently and is looking to further expand into financial advice.

Gamble says it is an area “we can expand into quite nicely.”