Perpetual may be forced to cut its dividend to pay down debt after another horror first quarter in which clients pulled almost $9 billion from its funds.
That is the view of analysts who have downgraded their share price estimates for the 139-year-old wealth manager that has been left over-indebted and over-exposed to volatile sharemarkets after a series of ill-fated acquisitions and an aborted plan to sell key divisions to KKR.
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