The Dublin-based asset management business of Australian group Perpetual Investments - formed following the defection of four top fund managers from Bank of Ireland Asset Management (BIAM) in 2004 - has racked up losses of €26 million since it was set up.
Recent filings showed PI Investment Management, which manages assets worth about €1 billion, recorded pre-tax losses of €7.1 million last year, down from €7.5million a year earlier.
Revenue and administration expenses were largely...
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