Perpetual posts $63.5M impairment charge
- Perpetual expects to record a non-cash impairment charge of $63.5 million against the goodwill of Thompson, Siegel & Walmsley.
- Following the announcement, the Perpetual share price was down at $19.58.
- The company stated that the adjustment stems from a planned client redemption of approximately US$4.6 billion.
Perpetual (ASX:PPT) announced it will book a non-cash impairment charge of $63.5 million following a major upcoming client redemption.
The business previously reported guidance for significant items on July 29, though goodwill impairment testing remained incomplete at that time.
The company stated that Thompson, Siegel & Walmsley received a notification from a client regarding an intention to withdraw approximately US$4.6 billion from its international equity strategy.
Perpetual stated that this redemption is expected to take place during the second quarter of the 2027 financial year.
The organisation noted that the adjustment will not impact its liquidity, banking covenants, or the underlying metric used for determining dividend payouts.
Following the announcement, the Perpetual share price was down at $19.58.
The asset manager provides portfolio management, financial planning, trustee, and compliance services across global markets.
