Our People
About Murray
Murray joined Pendal in June 2020 to provide fundamental credit analysis and integrate ESG across credit funds.
Before joining the team, Murray worked as an independent consultant measuring ESG for family offices and Private Equity firms. Prior to this Murray was a Research Fellow at the Institute for Economics and Peace where he led research for the Institute on the Sustainable Development Goals, violent extremism and engagement with business, which included projects determining the strategic priorities and direction of clients such as UNDP and the OECD. He has also worked as a management consultant and for a welfare organisation.
Murray holds a Bachelor of Arts in Politics and International Relations, a First Class Honours degree and a Bachelor of Law from the University of New South Wales.
Income & Fixed Interest Team
Recent articles by Murray
- FAST PODCAST: Will country-level ESG become more important after Ukraine?
- Three big questions facing ESG investors (and how to answer them)
- Murray Ackman: Ignore the billionaires – diversity, equity and inclusion are good for investors
- New guidelines warn investors away from ‘nature-negative’ companies
- Why ‘true’ social bonds are in short supply
- Sustainable fixed interest: How to weigh up WA’s new green bond
- How to evaluate Australia’s first sovereign green bond
- How investors will be affected by changes to a major Australian climate policy
- How to use ESG to assess state government bonds
- What Sun Cable’s collapse means for renewable investing
- Could polluting companies be forced to pay a climate tax?
- Take care when investing in sustainability-linked bonds
- How green hydrogen will impact natural gas investors
- ESG: What Albo’s 43pc emissions target means for investors
- ESG: Fixed interest investors can make the world better too
- Impact: How to invest in solving homelessness
- ESG: Beware the ‘brownium’ penalty
- Russia ‘self-sanctions’ are a coming of age for ESG
- What the AGL bid says about the future of energy in Australia

Murray Ackman
Senior ESG Advisory AnalystAbout Elise
Elise provides fundamental company analysis for our Australian Equity large cap strategies. Elise previously worked as an investment analyst for US fund manager Cartica where she covered a variety of emerging market companies. Prior to Cartica, Elise worked in investment banking and corporate finance at JP Morgan and Ernst & Young. Elise holds a Bachelor of Commerce and Economics from the University of Queensland and is a member of the Institute of Chartered Accountants Australia.
Australian Equities Team
Recent articles by Elise
- Elise McKay: The headlines driving Aussie equities this week
- Elise McKay: What’s driving equities this week?
- Elise McKay: What’s driving equities this week?
- Elise McKay: How equities investors should think about China’s disruptive DeepSeek AI
- Closing gender pay gaps is good for the economy – and investors
- Elise McKay: What’s driving equities this week?
- Elise McKay: What’s driving equities this week?
- Elise McKay: What’s driving equities this week?
- Elise McKay: What’s driving ASX stocks this week
- Elise McKay: What’s driving ASX stocks this week
- Aussie equities: How Xero and NEXTDC are leveraging AI technology
- What’s driving ASX stocks this week
- Aussie equities: AI and cloud computing drive data centre stocks
- Elise McKay: Don’t be fooled into thinking AI has run its course
- Small businesses are doing it tough. Cloud accounting platform Xero has some answers
- What’s driving ASX stocks this week
- Elise McKay: The questions to ask this ASX earnings season
- What’s driving ASX stocks this week
- Aussie equities: weekly ASX outlook
- Aussie equities: Weekly ASX outlook
- Weekly Aussie equities outlook
- Power-hungry AI a watch-out for equities investors
- What’s driving Aussie equities this week
- Aussie equities: Small business changes bring opportunity for Xero
- How ASX miners are creating opportunities for sustainable investors

Elise McKay
Investment Analyst and Portfolio ManagerAbout Rachel
Rachel is an Investment Analyst for our Smaller Companies team, providing fundamental analysis on a range of companies within the ASX ex-100 universe. Previously, Rachel was an Investment Analyst covering smaller companies for NAOS Asset Management and First Sentier Investors, where she began her career in their graduate program. Rachel holds a Bachelor of Commerce (Actuarial Studies and Financial Economics) from the University of New South Wales and is a CFA Charterholder.
Australian Equities Team

Rachel Folder
Investment AnalystIncome & Fixed Interest Team
Recent articles by Anna
- Pendal: Rate cuts still on track amid moderately higher unemployment
- Anna Hong: The last mile for Australian disinflation
- Moderating inflation is the trend of the year. Here’s what it means for investors
- Are Australian mortgage holders facing a cliff or a speed bump?
- Anna Hong: What the latest job numbers mean for bond investors
- The case for bonds as rate hikes push Australia towards recession
- Anna Hong: What bond investors learned from this week’s RBA minutes
- Investors need two things right now: patience and protection
- Anna Hong: Waiting for a central bank pivot? Start spending less
- Anna Hong: Markets will remain choppy with upcoming CPI releases
- Anna Hong: Investors will be looking for a ‘sensible’ budget
- ANNA HONG: Three risk factors for recession
- ANNA HONG: Tight labour market will continue rate-hike pressure
- Anna Hong: How the new monthly CPI indicator will impact investors
- Anna Hong: What we learned from the latest RBA minutes
- Anna Hong: What today’s RBA rate hike means for investors
- Labor won’t bring big change on the economic front
- Anna Hong: What’s next for rates after RBA loses patience
- Anna Hong: Debt, disruption and demographics determine where bonds go next
- Be ready for a Russian default as sanctions bite
- A ray of sunshine in the farm sector
- Anna Hong: What’s keeping Dr Lowe up at night

Anna Hong
Assistant Portfolio ManagerAbout Michael
Michael is Head of Multi Asset for Perpetual Asset Management. In this role he is responsible for the suite of Multi Asset Funds and capital markets research.
Michael joined Perpetual in June 2014 and has 18 years finance industry experience. Prior to joining Perpetual Michael worked at JANA for 13 years, and held a number of positions across research, consulting and portfolio management, including Head of Investments, Implemented Consulting.
Earlier in his career Michael held a variety of positions at UBS, Morgan Stanley and Barclays Capital in both Australia and the United Kingdom.
Michael holds a Bachelor of Business (Economics and Finance) from RMIT University and is a Vincent Fairfax fellow.
Multi Asset Strategies Team

Michael O’Dea
Head of Multi AssetAbout Matt
Matt Sherwood is Perpetual’s Head of Investment Strategy, Multi Asset. In this role, Matt is responsible for monitoring, analysing and forecasting earnings growth, interest rates, currencies, economic growth and policy implications across major regions.
Matt joined Perpetual Asset Management Australia in 2005 and his viewpoints and analysis of international developments are frequently sought by policymakers, opinion leaders and investors in Australia and Asia. These include television news networks such as Reuters, CNN and Bloomberg in Asia and Sky News, SBS and the ABC in Australia. His opinions have appeared in many newspapers including the Wall Street Journal, Washington Post, the New York Times and Australian Financial Review.
Matt has previously been a panel member which discussed macro issues with the US Federal Reserve on a quarterly basis and has briefed the BIS on several occasions on balance sheet issues facing the global economy. His current research focus is on the global trade war and whether monetary policy can prevent a serious downdraft in growth and regional sharemarkets.
Matt is a published author of the book titled ‘Intelligent Investing’ and began his career as a Senior Economist at the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation and undertook detailed research into the equity risk premium, currency markets and business investment.
Matt has a Bachelor of Business from the University of Newcastle and a Masters Degree in Economics (Finance and Econometrics) from the University of Sydney. Matthew has also held a lecturing position with Kaplan Education (formally FINSIA) between 1997 and 2010 and has also lectured MBA classes from Case Western Reserve University in the United States.
Multi Asset Strategies Team

Matt Sherwood
Head of Investment Strategy, Multi AssetAbout David
David Hudson is the Head of Asset Allocation within the Multi Asset team for Perpetual Asset Management Australia. In this role, David is part of the portfolio management team managing all multi asset funds. He is responsible for generating and implementing active asset allocation ideas and the strategic asset allocation of multi asset funds.
David is a proven portfolio manager with almost two decades experience in multi asset portfolio management including 14 years as the lead portfolio manager of diversified funds at BlackRock Investment Management. David has a strong fundamental background in macroeconomics and all asset classes.
David has also held positions as an equity strategist at Bankers Trust Investment Management; fixed income strategist and senior economist at Bankers Trust Investment Bank; and as a senior adviser to the Prime Minister. He started his career as an economist with the Commonwealth Department of Treasury in the early 1980s.
David has an Honours degree in Economics from Adelaide University.
Multi Asset Strategies Team

David Hudson
Head of Asset AllocationAbout Geoff
Geoff Ryan is Portfolio Manager for Diversified Strategies at Perpetual Asset Management. In this role, he is responsible for the portfolio management of the diversified funds and tactical asset allocation.
Geoff joined Perpetual Asset Management Australia in June 2018, having previously worked for five years as Investment Manager, Risk & Strategy for Commonwealth Superannuation Corporation where he developed and implemented the Fund’s dynamic asset allocation process.
Prior to this, he worked at Black Rock / Merrill Lynch, where he held various roles in the multi-asset division. Most recently he was Portfolio Manager, Balanced Funds and Portfolio Manager, Overlays as well as Strategist, Fundamental Global Macro Funds.
Geoff has a Bachelor of Economics (Honours).
Multi Asset Strategies Team

Geoff Ryan
Portfolio Manager, Diversified StrategiesAbout Russell
Russell Turner is a Portfolio Manager in the Multi-Asset team for Perpetual Asset Management Australia. In this role, he assists the ongoing development of macro-economic modelling, the evolution of dynamic asset allocation process and undertakes manager research.
Russell joined Perpetual Asset Management Australia in July 2015, having previously worked as the Business Manager to Geoff Lloyd, Perpetual’s CEO. Prior to this, he was a Graduate in Perpetual Private.
Russell has a Bachelor of Laws, Bachelor of Science, majoring in Applied Mathematics and a Master of Commerce, majoring in Applied Finance and is a Chartered Financial Analyst.
Multi Asset Strategies Team
