Pengana LIC denies changes to management arrangements
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The news: Listed investment company Pengana International Equities (PIA) said an announcement from Pengana Capital Group (PCG) about the management of the portfolio was made without the consent of PIA’s board or its independent board committee.
The context: The announcement made on Thursday said PCG entered into an agreement with Antipodes Partners to “assist” PCG in managing the PIA portfolio in line with the Antipodes Global SMID strategy.
Today, PIA said no changes to its investment management arrangements or investment strategy had been approved by PIA’s board.
PIA noted its shares would remain in a trading halt until the release of a further announcement.
What they said: “PIA has requested further information from its investment manager, Pengana Investment Management, regarding the matters described in the PCG announcement. PIA requires this information in order to assess the proposed arrangements and to provide shareholders with a full, accurate and informed update,” an announcement from PIA said.
The source: ASX
