The Perpetual Ltd (ASX: PPT) share price is down 5% to $42.06 today after a volatile week that included denials that the equities manager, financial advice, and trustee business was the subject of a takeover target.
After a week's volatile trading on heavy volumes the company today responded to a query from the regulator to claim it was in the dark as to the reasons why.
In its response to the regulator it did note that its new CEO has previously stated Perpetual Investments is open to expanding beyond its "value investing approach".
The 'value investing' approach has been used as an excuse for some underperformance of investment funds at Perpetual recently, which has been reflected by the continually soft net FUM flows.
Theoretically this could include the potential for acquiring smaller rivals as part of its "growth agenda", while it's also been regularly speculated before that it could sell either or both of its non-core 'financial advice' and 'corporate trust' businesses.
Other asset mangers that have been volatile on the local market include Platinum Asset Management Ltd (ASX: PTM) and Janus Henderson Group Ltd (ASX: JHG) that both face their own problems related to emerging markets and Brexit respectively.
