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The Talga Group Ltd (ASX: TLG) share price is backtracking today despite announcing a positive update to the ASX.

At the time of writing, Talga shares are swapping hands for $1.325, down 7.02%.

What did Talga announce?

In its release, Talga advised that LKAB and Mitsui have extended a Letter of Intent (LOI) for the Swedish graphite anode project.

Established since 1890, LKAB, or known as Luossavaara- Kiirunavaraa Aktiebolag is an international mining and minerals group based in Sweden. The company is focused on mining and processing iron ore for the steel industry.

Mitsui, on the other hand, is one of the largest general trading companies headquartered in Japan. Its businesses cover energy, machinery, chemicals, food, textile, logistics, finance and more.

Under the agreement, LKAB and Mitsui will work together in co-developing Talga’s European green anode project for lithium-ion batteries. This includes the construction of a 19,000 tonnes per annum (tpa) anode production facility and an integrated mining operation in northern Sweden. The latter will provide an additional 85,000tpa capacity of the anode material.

The extension of the LOI follows both joint venture partners engaging in customer interactions, and advanced discussions on the potential development. Talga noted that the terms of the agreement are being progressed by all parties involved.

The LOI has an expiry date for 30 November 2021 for LKAB and Mitsui to enter into a formal arrangement.

Talga managing director, Mark Thompson commented:

Talga is very pleased to progress JV partner discussions with LKAB and Mitsui for the development of our European anode supply chain to serve the lithium-ion battery market from our Swedish operations. We look forward to continue exploring potential synergies across operations, investment and global sales/distribution in our partnership negotiations.

Talga share price summary

Since the middle of November, Talga shares have barely made any significant movement, hovering around the $1.50 mark. The company’s share price however is up more than 130% when looking at the last 12 months.

On valuation grounds, Talga presides a market capitalisation of roughly $410 million, with approximately 303 million shares outstanding.

The post Talga (ASX:TLG) share price slides 7% despite positive update appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX lithium shares have been among the top performers on the S&P/ASX 200 Index (ASX: XJO) and All Ordinaries Index (ASX: XAO) over the past year.

Though many factors impact a company’s share price, ASX lithium shares have enjoyed strong tailwinds from the soaring price of lithium.

This time last year, a tonne of lithium was selling for about US$130 (AU$171). Today lithium is trading at north of US$210 per tonne.

We’ll take a look at 2 top-performing ASX lithium shares held by boutique fund manager Ausbil Investment Management in a tick. But first…

What’s driving lithium prices higher?

Though lithium is still below its all-time highs of some US$290 per tonne seen in June 2018, the price has been marching steadily higher for 12 months now.

Demand is growing alongside the expansion of electric vehicles (EVs) and home and grid-scale battery storage for renewable sources, both generally reliant on lithium-ion battery technology.

On the other side of the equation is a notable lack of increasing supply to meet the ramp-up in demand.

Wang Xiaoshen is the vice-chair of Ganfeng Lithium Co, a major producer of lithium chemicals. According to Xiaoshen (quoted by Bloomberg), “The industry is rapidly growing and we have a very upbeat forecast on lithium consumption. I can’t rule out the possibility for lithium prices to bounce back to the 2018 level.”

Strategic research provider BloombergNEF forecasts a 900% increase in demand for lithium-ion batteries by 2030.

Xiaoyi Liu, an analyst at Shanghai Metals Market, also believes lithium prices could run higher from here, saying, “Prices for lithium chemicals will still have room to rise by the end of the year, demand for EV batteries and energy storage is still strong.”

Fund manager says lithium demand will outpace supply

Ausbil’s global resources fund has had a banner 12 months by most any standards, returning 88.3% over the past year.

James Stewart is the co-portfolio manager of Ausbil’s global resources fund, alongside Luke Smith.

As quoted by the Australian Financial Review, Stewart says part of his secret to success is “staying on top of the news but importantly, not always reacting to it”.

Pointing to rapidly increasing commodity demand in other parts of the world, Stewart says China is no longer the key driver for commodity demand:

Now the rest of the world is really driving commodity demand which will only increase as the US, Europe, Asia and South America open up. So there’s this huge restock that’s going through global economies… The volume of electric vehicles sales going through Europe and the US is phenomenal.

As mentioned up top, the ramp-up in demand for many commodities, including lithium, hasn’t been met with increased exploration and new production. According to Stewart:

Over the last seven years, we’ve had almost no investment in new projects and particularly over the last 12 to 18 months with COVID-19, there’s been no investment at all… Because of the terrible environment over the last few years with weak pricing, driven by supply, but also weak demand from COVID, it means there’s been no investment in lithium.

The Ausbil global resources fund is weighted towards ASX lithium shares, with Stewart believing demand will continue to outpace supply over the next 6 to12 months.

In fact, 2 of the funds top 5 long positions are Pilbara Minerals Ltd (ASX: PLS), 5.7%, and Orocobre Ltd (ASX: ORE), 6.2%.

How have these 2 ASX lithium shares been performing?

Shareholders of Pilbara and Orocobre will have little to complain about over the past 12 months.

Orocobre shares have gained around 170% since this time last year, while ASX 200 listed Pilbara shares have gained an eye-popping 500%. Over that same time, the ASX 200 has gained around 24%.

Year to date, both ASX lithium shares have continued to outperform. The Orocobre share price is up around 43% so far in 2021. The Pilbara share price is up almost 67%.

Of course, there are no guarantees these shares will continue to trounce the benchmark in the future.

One risk to consider before investing in ASX lithium shares is a potential oversupply of lithium down the road, as happened in the leadup to the 2018 lithium price crash.

Another is the development of economically viable alternate clean energy sources, like hydrogen fuel cells.

Happy investing!

The post 2 high performing ASX lithium shares tipped by top fund manager appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

It’s been a rocky number of weeks for cryptocurrency investors, and now a number of popular digital coins, like Bitcoin and Ethereum, are down substantially from where they were just a month prior.

Of course, volatility is something all seasoned investors have experience with. The stock market, for example, has had its fair share of crashes throughout the years, and the cryptocurrency market, even more so.

But should the latest crypto crash cause you to rethink your strategy? Or should you stay the course as a cryptocurrency investor?

What the latest crash means

Just as stocks have the potential to crash when negative news comes out, so too can cryptocurrency values plummet whenever there’s the slightest bit of negative press. Last week, China’s central bank furthered its crackdown on cryptocurrency mining, which sent the value of digital coins on a downward spiral, to the point where Bitcoin had actually wiped out its 2021 gains.

But while a cryptocurrency crash can be unsettling the same way a stock market crash can, ultimately, this really isn’t anything new. Crypto crashes happen often, and digital coins have recovered from them many times over, just as stocks have recovered in their own right.

As such, you don’t necessarily need to change your investing strategy unless you come to the realization that digital currencies are too volatile given your personal risk tolerance (and to be clear, there’s nothing wrong with acknowledging that you don’t have the stomach for them). But what you should do is take steps to make sure a short-term cryptocurrency crash doesn’t hurt you.

For the most part, that really means having an adequate amount of cash reserves on hand for emergencies. If you make a point to stock away three to six months’ worth of living expenses in the bank, you’ll put yourself in a much better position to ride out future cryptocurrency crashes. That way, if you end up needing money in a pinch, you won’t have to sell the cryptocurrencies you hold — potentially at a loss — to get it.

That said, if you’re fairly new to cryptocurrency, you should know that digital coins can be far more volatile than stocks, and for that reason alone, you may want to invest only a small portion of your assets in that market. In fact, a good rule of thumb is to go into cryptocurrencies assuming you’ll lose all of your money.

Obviously, that’s not what you want — and that may not happen at all. But if you adopt that mindset, then you’ll also end up stressing out a lot less if there’s a massive crypto crash.

Remember, there’s no such thing as a risk-free investment. It’s possible to lose money even with so-called safe investments like bonds if circumstances happen to align that way. But cryptocurrency is particularly risky, and so it’s important to make sure you’re protected against periods of volatility. If you arm yourself with enough money in the bank, a crypto crash like the one that happened this past week shouldn’t be something to lose sleep over.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Cryptocurrency values plunged this past week. Should you change your investing strategy? appeared first on The Motley Fool Australia.

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Maurie Backman has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Afterpay Ltd (ASX: APT) share price has taken a tumble in early trade.

Shares in the buy-now-pay-later behemoth are trading nearly 7% lower in the morning session. At the time of writing the Afterpay share price has recovered slightly, currently trading at around $120.90.

Read on to find out why the Afterpay share price is taking a dive today.  

Why is the Afterpay share price falling?

Afterpay has not released any price-sensitive news to explain the bearish price action. As a result, the company’s falling share price could be investors taking profits. Shares in Afterpay have surged more than 24% in the past 2 weeks, which could be prompting investors to cash in.

In addition, Afterpay has also been on the receiving end of negative broker coverage. Last week analysts from UBS slapped a ‘sell’ rating on the Afterpay share price. Analysts cited concerns over the company’s expansion and its existing merchant partners. As a result, analysts retained a price target of $37 for Afterpay shares.

Snapshot of the Afterpay share price

As noted previously, the Afterpay share price has surged in the past 2 weeks, hitting 4-month highs.  

The initial catalyst could be traced back to strength in the global tech sector. In addition, a bullish note from broker Morgan Stanley 2 weeks ago could have also prompted the rise in Afterpay’s share price.

Recently, shares in Afterpay received an extra boost after the company expanded its ‘one-time card’ for US customers. As a result, customers will be able to shop at retailers such as Amazon.com, Inc. (NASDAQ: AMZN), Nike Inc (NYSE: NKE), Target Corporation (NYSE: TGT).

According to Afterpay, these notable merchants account for almost half of all e-commerce volume in the United States. The company’s ‘one-time’ card offers users the same split payment service and is generated through the Afterpay app, allowing customers to use it at checkout.

The post Afterpay (ASX:APT) share price tumbles nearly 7% appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Autosports Group Ltd (ASX: ASG) share price has ramped into fifth gear today after Autosports announced an earnings update and a new acquisition.

At the time of writing, shares in the retail automotive company are up 6.56%, trading at $2.60. For context, the S&P/ASX 200 Index (ASX: XJO) is currently 0.27% lower.

Let’s take a closer look at today’s news.

What did Autosports announce?

Full-year earnings update

In its first statement to the ASX, Autosports advised it was expecting revenue for FY21 to be between $1.92 billion and $1.96 billion, an increase of 13%-15% on FY20. The company expects net profits before tax to be between $68 million and $70 million – an increase of around 200% on FY20.

Autosports says these better-than-expected results are due to 37.5% growth in the car market. Despite some issues around semi-conductor computer chips in cars, supply is as anticipated.

The company said easing of COVID-19 restrictions, especially in Victoria, has seen a recovery in its vehicle servicing and spare parts sales.

John Newell Mazda purchase

In its second statement today, the company announced it will buy an 80% interest in John Newell Mazda, Alexandria. The John Newell dealership is opposite the Autosports Group luxury car dealership in Alexandria, an inner suburb of Sydney.

The purchase will cost Autosports $16 million – comprising $12 million “for goodwill” and $4 million for 80% of the net assets. Autosports expects the purchase to be completed by 1 July 2021. It’s conditional on several factors including a new lease and the “release of encumbrances and vendor securities”.

Autosports share price snapshot

Over the past 12 months,  the Autosports share price has increased 127%. Since the beginning of this year, the value of the company’s shares has risen by almost 79%. Shares reached a record high of $2.77 in February this year.

Autosports Group has a market capitalisation of around $511 million.

The post The Autosports (ASX:ASG) share price is up 6%. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. At the time of writing, the benchmark index is down 0.1% to 7,301.9 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

Atomo Diagnostics Ltd (ASX: AT1)

The Atomo Diagnostics share price has rocketed 41% to 19 cents. This morning the medical device company announced that its partner, Access Bio, has received Emergency Use Authorisation from the U.S. Food and Drug Administration (FDA) for point-of-care use of its CareStart EZ COVID-19 test. CareStart EZ COVID-19 is a rapid antibody test made by combining an integrated device developed by Atomo and a rapid COVID-19 antibody test strip from Access Bio.

Metcash Limited (ASX: MTS)

The Metcash share price is up 1.5% to $3.74. This morning the wholesale distributor released its full year results and reported a 9.9% increase in revenue to $14.3 billion. Things were even better on the bottom line thanks to margin expansion, with the company delivering a 27.1% jump in underlying profit after tax to $252.7 million. This allowed Metcash to declare a full year fully franked 17.5 cents per share dividend, up 40% on the prior corresponding period. The company also announced a $175 million share buyback.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price has jumped almost 9% to $11.36. Investors have been buying the shares of online retailers today in response to the Sydney lockdown and concerns that COVID-19 could be spreading into other states.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is up almost 3% to $37.77. This gain appears to have been driven by a number of factors. This includes panic buying because of COVID-19 and a broker note out of Macquarie. In respect to the latter, although the broker has only retained its neutral rating, its price target of $38.40 was notably higher than where its shares were last trading. This new price target takes into account the Endeavour demerger.

The post Why Atomo, Metcash, Temple & Webster, & Woolworths are pushing higher appeared first on The Motley Fool Australia.

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• Metcash (ASX:MTS) share price charges higher after reporting FY 2021 profit surge
• ASX 200 Weekly Wrap: Share market breaks 5 week winning streak

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Hydrix Ltd (ASX: HYD) share price is going gangbusters today, up a huge 70% to 27 cents at the time of writing after rising by as much as 77% in morning trade.

Below we take a look at the medical technologies company’s latest news.

What did Hydrix announce?

The Hydrix share price is soaring after the company reported Angel Medical Systems had advised it that the US Food and Drug Administration has approved its AngelMed Guardian System (AMSG3-E) for commercial release in the United States.

The implantable AngelMed Guardian device constantly monitors patients’ heart signals, alerting them of impending heart attacks. According to the release, it also warns against deadly silent heart attacks. The Guardian is now the world’s first FDA-approved implantable cardiac monitoring device.

Commenting on the approval, Hydrix executive chair Gavin Coote said:

This is a brilliant outcome for AngelMed and Hydrix. The Guardian is a game-changer in cardiac monitoring. It is the world’s only implantable device that can alert a person of an impending heart attack and has the potential to transform patient quality of life.

The FDA approval clears the way for Hydrix to complete regulatory submissions in Asia-Pacific markets commencing with Australia and Singapore.

AngelMed’s CEO, Brad Snow added, “We are excited to commercially launch within weeks in the USA and look forward to supporting Hydrix with its plans to expand our reach into the Asia Pacific market and partner with us to develop next generation device features.”

The company said that with the FDA approval in hand, it will now submit applications for regulatory approvals in Australia and Singapore. It expects the Australian TGA regulatory approval process to take between 6–12 months, while Singapore’s HSA regulatory approval process is forecast to take 9–12 months.

Hydrix share price snapshot

Over the past 12 months the Hydrix share price is up 194%, leaving the 28% gains posted by the All Ordinaries Index (ASX: XAO) well behind.

Year-to-date, however, the Hydrix share price is flat, with much of its 12-month gains having been achieved on a single day last August,

The post Here’s why the Hydrix (ASX: HYD) share price is shooting 70% higher appeared first on The Motley Fool Australia.

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• 3 factors for sustainable dividends from small ASX shares
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson

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Ben Miller, portfolio manager from Naos Asset Management, has outlined three principles when looking at smaller companies when targeting sustainable and growing dividends over time.

Naos has three investment listed investment companies (LICs) that are looking at smaller and microcap ASX shares, including Naos Emerging Opportunities Company Ltd (ASX: NCC) and NAOS Ex-50 Opportunities Company Ltd (ASX: NAC).

These are three principles that Mr Miller talked about:

Free cashflow

The first point was that the ability of a company to compound capital comes down to how a company utilises or re-invests a portion of its free cashflow. That could be acquisitions, re-investing into new operations, starting new divisions, reducing debt or building a bigger cash pile for the future.

A business that is paying out cash at the expense of growth of the business isn’t helping the long-term quality of that company.

Naos said that it likes to see capital-light businesses allocate some free cashflow to strategic and balance sheet initiatives as well as paying a dividend.

Mr Miller said that that a company that is generating sustainable income for investors should generally have a higher free cashflow than dividends.

Payout ratio

ASX listed companies have quite high dividend payout ratios compared to international shares – ASX payout ratios have been rising over the longer-term and play a factor in total shareholder returns according to Naos.

Mr Miller said that whilst there are company or industry specific, or even ownership specific, factors that may vary results, a general principle is that a very high dividend payout ratio can mean that dividends might not be sustainable over the longer-term.

When a business retains some profit, that can be a risk mitigation factor in the future if there’s something like a recession.

He also pointed out that a high dividend payout ratio may mean that businesses aren’t re-investing enough to stay ahead of the competition.

Mr Miller made the following comments about insights regarding boards:

A payout ratio can also provide investors with an insight into the intentions of the Board of directors. A very high payout ratio may highlight elements of a short-term focus and/or a volatile dividend profile may highlight elements of a lack of visibility around the long-term strategy of the business. As a general rule of thumb, the market doesn’t look favourably on cuts in dividends amounts without appropriate justification.

In our opinion, a capable Board is one which prudently builds the retained earnings balance at a rate greater than the dividend payments but is equally able to pay a steadily growing stream of dividends over the long term. By doing so, you are giving yourself a buffer in case of unexpected losses/impairments and are able to demonstrate good level of capital management competency upon which shareholders can depend.

Financing cashflows

Mr Miller also pointed to the fact that the cashflow statement should be the first thing that investors look at because it’s harder to “muddy the water”.

Naos pays particularly close attention to the financing cashflow section of the balance sheet.

The investment manager doesn’t like to see to businesses are regularly borrowing money without paying it back.

Sometimes a business can need to use borrowings for acquisitions or funding working capital. But a company that is living on debt and not generating free cashflow can lead to dividend cuts and a possible capital raising.

On this point, Mr Miller said:

A quick way to interpret the sustainability of the funding of dividends would be to compare dividend growth to debt growth. Artificially ‘holding up’ a dividend through debt is likely not a sustainable capital management decision.

Final thoughts

Mr Miller pointed out that avoiding yield traps is just as important as finding a good sustainable dividend.

He said that the compounding financial growth for a successful small company can translate into substantial dividend growth over time.

The post 3 factors for sustainable dividends from small ASX shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Westpac Banking Corporation (ASX: WBC) is reportedly nearing D-day for the sale of its Australian and New Zealand life insurance businesses.

The bank’s share price appears to have gotten caught up in today’s market weakness. At the time of writing, the Westpac share price is trading 0.7% lower at $25.70.

Let’s unpack the latest divestment development coverage.

Westpac’s life insurance offload looms

According to The Australian, Westpac could hand off its Australian and New Zealand life insurance units within the coming weeks in two separate deals.

JPMorgan is said to be conducting the auction of both units. Word on the street is the NZ auction is nearing a close. The sale might see the bank’s Kiwi life business fetch as much as $465 million.

It is believed that NZ’s Fidelity Life, Partners Life, and TAL are in the race for the New Zealand operations.

Closer to home, final bids for Westpac’s Australian life insurance unit were taken on Friday. The estimated $1.78 billion division is rumoured to have received binding offers from Resolution and TAL.

Life insurance is no easy money

Australia’s second-biggest bank has taken a page out of its ASX-listed peer’s book. Westpac is the last of the big four to wave goodbye to life insurance.

Additionally, the planned sale follows a significant fall in premiums year-over-year. In its second half FY20, Westpac wrote down roughly $406 million of the life division.

Some analysts had also been forecasting further writedowns over the proceeding 12 months.

Westpac’s leaner ASX-listed bank mission

Westpac’s divestment spree is a part of a bigger cost-reduction plan led by chief executive officer Peter King. The ambition is to cut costs by nearly 40% in four years by removing specialist businesses.

Such divisions include its general insurance operations, which has been auctioned off to Allianz. Additionally, the bank’s Pacific operations has been sold to Kina Securities Ltd (ASX: KSL).

More recently, the entire New Zealand Westpac division was up for consideration. However, the bank decided to retain its Kiwi banking operations.

The post Westpac’s (ASX:WBC) double life insurance divestment looms appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Perpetual Ltd (ASX:PPT) share price hit a new 52-week high this morning, reaching a top of $39.58. Perpetual shares have now gained more than 45% since their 52-week low of $27 back in November 2020.

After setting a new record the company’s share price has since slipped into the red, down 0.28% at the time of writing to $39.10.

Board reshuffling

The company also announced earlier today the appointment of a new non-executive director, Mona Aboelnaga Kanaan.

Regarding Aboelnaga Kanaan’s placement, Perpetual chair Tony D’Aloisio said:

We are delighted to welcome a director of Mona’s calibre to the Perpetual Board. Her deep industry knowledge and expertise, particularly in North America, will complement the Board’s mix of experience and skills, and will be invaluable to Perpetual as it continues its growth globally following the recent acquisitions of Trillium Asset Management and Barrow Hanley Global Investors.

The appointment is effective today.

Perpetual share price snapshot

Shares in the company, which has been a part of Australia’s financial services industry since 1886, have climbed 11% year-to-date, outpacing the S&P/ASX 200 Index (ASX: XJO), which has posted just 9%.

On current prices, Perpetual has a market capitalisation of around $2.2 billion, and trades at a price-to-earnings ratio (P/E) of around 32. Trading volume in Perpetual shares is also 40% today higher than the 20-day average for this time of day.

The post Perpetual Ltd (ASX:PPT) share price sets new 52-week high appeared first on The Motley Fool Australia.

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• The Kogan (ASX:KGN) share price jumped 10% this morning
• Gold Resources (ASX:GOR) share price sinks 7% on production update

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