Perpetual SHARE-PLUS Long-Short Fund

Offering investors a broader set of investment opportunities.

The Perpetual SHARE-PLUS Long-Short Fund invests in companies we believe will rise in value and takes short positions in companies we believe will fall in value.

The Fund offers investors a broader set of investment opportunities: it can take long (to hold) and short (to sell) positions in companies and may hold up to 35% of the portfolio in cash.

We employ our tried and proven bottom-up stock selection process for both long and short positions. Through fundamental company research, we aim to identify opportunities to buy quality, undervalued companies. On the short side of the portfolio we opportunistically target stocks that we expect will underperform. We rarely short the index, we short companies.

Long-term track record

Established in 2003, the Fund has a long and proven track record across multiple market cycles.

More flexibility in implementing ideas

By taking long and short positions the Fund has the flexibility to generate returns from rising and falling share prices.

Rigorous research for stock selection

Perpetual’s bottom-up company research generates the insights that drive our stock selection for both long and short positions. We focus on quality and value to identify companies with the greatest return potential.

Specialist shorting expertise

Perpetual’s equity team has a highly experienced shorting investment capability. This skill and experience has helped the Fund identify shorting opportunities that have added to returns.

Pricing & Performance

Fund Commencement: June 2009

Unit Pricing

As at 12/10/2026

Entry 2.866

Exit 2.856

View Price History

Distributions

Frequency

Half Yearly

Cents per Unit

23.953

Reinvestment Price

2.901

View Distribution History

Performance

As at 30/09/2026

Returns

As at 30/09/2026

	Growth (%)	Distribution (%)	Total (%)
1 month	-3.28%	--	-3.28%
3 month	-1.20%	--	-1.20%
6 month	-5.13%	7.83%	2.70%
1 year	-8.76%	8.95%	0.18%
3 year	2.89%	5.55%	8.44%
5 year	-2.23%	9.30%	7.06%
10 year	1.14%	7.26%	8.40%

Documents & Resources

Fund Profile Target Market Determination (TMD) Perpetual Investment Funds PDS.pdf

Investment Approach

Perpetual research companies of all sizes using consistent share selection criteria. Perpetual's priority is to select those companies that represent the best investment quality and are appropriately priced. In determining investment quality, investments are carefully selected on the basis of four key investment criteria: - conservative debt levels - sound management - quality business - recurring earnings In addition, Perpetual aims to take short positions predominantly in Australian shares that it believes will fall in value. The short positions are determined based on each stock's expected returns and the investment constraints (designed to reduce the risks associated with taking short positions). The Fund may have up to 20% exposure to investments in international shares. The Fund may have up to 10% exposure to short positions in international shares. Derivatives may be used in managing the Fund.

Details & Fees

Investment Objective	Aims to provide long-term capital growth and income through investment in quality shares and taking short positions predominantly in selected Australian shares.
Minimum Suggested Timeframe	5 years or longer
Fund Manager	Perpetual Investment Management Limited
Asset Class	Australian Shares
Minimum Initial Investment	$25,000
Minimum Initial Investment (with saving plan)	$100	Monthly Minimum	Nil
Minimum Additional Investment	$25,000

Australian shares	90 - 125%
Australian shares (net)	65 - 100%
Cash	0 - 35%
Short Positions	0 - 25%

Half Yearly

June 30, December 31

Entry	0
Exit	0
Management Fee (p.a.)	0.99%. Refer to PDS for Management Costs.
Performance Cost (p.a.)	13.98% of outperformance*
Buy / Sell Spread	0.18% / 0.18%
Management Notes	The Funds management fee of 0.99% pa is charged on the sum of its long & short positions (GAV), which equates to a management fee of 1.39% pa of the Funds net asset value (NAV) for the Financial Year 2025. Please refer to the PDS for further information. *The performance fee is equal to 13.98% of the difference between the Funds daily return & its performance hurdle. The performance hurdle is, S&P/ASX 300 Accumulation Index plus 2% per annum.

Fund resources

Fund Factsheet Fund Profile Product Disclosure Statement

Portfolio manager

Sean Roger

Portfolio Manager - Pure Equity Alpha, SHARE-PLUS Long-Short; Co-Portfolio Manager Perpetual Equity Investment Company (ASX:PIC)

BAcc

How to Invest

Perpetual investments online application Apply

Perpetual investments application form Download

Perpetual Investment Funds feature Perpetual’s leading investment management capabilities. They are designed for individual and wholesale investors, and super fund trustees, with $25,000 or more to invest.You can also invest through investor directed portfolio services. Applications to invest in Perpetual Investment Funds can be made through the myPerpetual application portal online.

Before applying for a Perpetual Investment it's important to review the Product Disclosure Statement (PDS), and related documents to ensure you understand how the fund works and the risks involved.

Information on Customer Identification Requirements

Investment Forms, PDS's and Offer Documents

Find out more about Perpetual Investment Funds

Continuous disclosure and updates for Perpetual Investment Funds

Manage my shareholdings Login to the investor centre

Application for additional investment Download

Applications for additional investment to your Perpetual Fund can be done by accessing the investor centre or via the post where completed additional investments form & documents should be sent to this address:

Perpetual Investments Unit Registry

Locked Bag 5038, Parramatte NSW 2124

Review the current PDS and related documents. They may have changed since you first invested.

Information on Customer Identification Requirements

Find out more about Perpetual Investment Funds

Continuous disclosure and updates for Perpetual Investment Funds

Manage my shareholdings Login to the investor centre

Perpetual Investments application form Download

Applications for Perpetual Investment Funds can be made via investor directed portfolio services. Financial advisers can make applications through the investor centre, or via the post where completed application & documents should be sent to this address:

Before applying for a Perpetual Investment Fund, it's important to review the Product Disclosure Statement (PDS) and related documents to ensure you understand how the plan works and the risks involved.

Perpetual Investments Unit Registry

Locked Bag 5038, Parramatta NSW 2124

Information on Customer Identification Requirements

Find out more about Perpetual Investment Funds

Continuous disclosure and updates for Perpetual Investment Funds

Contact an institutional relationship manager or phone 1800 110 941. Contact

With one of Australia’s largest, most well-resourced and experienced investment teams, Perpetual offers institutional investors expertise across four major investment capabilities: Australian equities; global equities; cash, credit and fixed income; and multi asset strategies. These capabilities can be accessed via pooled investment funds or tailored mandates.

Have Any Questions?

Call your Perpetual Business Development Manager on 1800 062 728.

What Are The Risks?

All investments carry risk. While it is not possible to identify every risk relevant to your investment, we have provided details of the risks that may affect your investment in the relevant product disclosure statement (PDS) or offer document.

You can find PDSs and other documents in our resources section. The relevant PDS, offer documents and forms can also be found in the sections below:

Investment Superannuation Retirement

Perpetual Investment Management Limited ABN 18 000 866 535 AFSL 234426 and/or Equity Trustees Superannuation Limited (ETSL) ABN 50 055 641 757 are the issuers of the Funds. You should consider the relevant Fund product disclosure statement or other offer document before deciding whether to invest. The product disclosure statements and target market determinations for the Funds are available on this website.

Returns have been calculated using exit prices after taking into account all ongoing fees, and assuming reinvestment of distributions. No allowance has been made for entry fees, exit fees or where applicable taxation. Future returns may bear no relationship to the historical information displayed. The returns shown represent past returns only and are not indicative of future returns of a Fund. Returns on a Fund can be particularly volatile in the short term and in some periods may be negative.

The Fund's investment universe allows it to invest from time to time directly or indirectly in stocks listed on sharemarket exchanges outside of Australia. To help manage the risk profile of the Fund relative to the Australian sharemarket, exposure to stocks listed outside of Australia is limited to 20% and any non-Australian dollar assets may be hedged to the Australian dollar.

The net market exposure is the value of the Fund's long positions minus the value of its short positions. The Fund primarily holds short positions in Australian Shares but may have up to 10% exposure to short positions in global shares.

This information has been prepared by Perpetual Investment Management Limited (PIML) ABN 18 000 866 535, AFSL 234426. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information.

No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital.

Australia and New Zealand

The information on this website is intended for Australian residents or citizens who are currently located in Australia, or where expressly indicated, New Zealand residents or citizens who are currently located in New Zealand only, and should not be relied on by residents or citizens of any other jurisdiction. By clicking the “Proceed” button below, you are agreeing to the Terms & Conditions of use.

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United Kingdom

This information and the terms of use are subject to change at any time without notice. The contents of this website are intended for residents and citizens of the United Kingdom, and the European Union, and should not be relied on by residents or citizens of other jurisdictions. All investment products and services referenced in this website are managed and offered by either JOHCM or its affiliates within the Perpetual Limited group of companies ("Perpetual Affiliates"). By clicking the “Proceed” button below, you are agreeing to the Terms & Conditions of use.

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Europe

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