Australia’s Perpetual says ‘technological disruption’ cyber disaster has affected some funds.


June 21 (Reuters) – Australia Perpetual ( PPT.AX ) confirmed on Wednesday an extended technology outage following an IT security incident, affecting some of its funds, although the fund manager confirmed all client investments and its own systems were intact and secure. .

“Perpetual listed products, institutional bonds, Pendal, Perpetual Corporate Trust, Perpetual Package clients and all of our global asset management businesses will not be affected,” a Perpetual spokesperson said.

Since the introduction of September last year, the country’s corporate industry has become increasingly concerned about cyber security issues, with TechnologyOne Ltd ( TNE.AX ) and Medibank Ltd ( MPL.AX ) some of the latest targets.

In Perpetual’s case, one of its third-party unit registry systems was compromised, affecting customers’ access to its main investor portal myPerpetual, the company said in a statement.

However, the company confirmed on Wednesday that its core systems were back up and processing of customer transactions, including withdrawal payments, had resumed.

It added that the outage affected approximately 45,000 customers and was limited to the asset management and wealth management divisions of Investment Funds, WealthFocus and select products distributed in Australia.

In order to temporarily move to a more secure environment, Perpetual said it had disconnected from third-party systems “when we became aware of the issue and are currently working with the registry provider to rebuild the system.”

Reporting by Roushni Nair in Bengaluru; Editing by Varrun HK and Janane Venkatraman

Our Standards: The Thomson Reuters Trust Principles.


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