Perennial Investment Partners co-founder, Kerry Series, is returning to Australia from Hong Kong to start up a new Asian boutique called DVA (deep value active) Capital.

Series, who relocated from Perennial to HSBC Investments in Hong Kong two years ago, will leave HSBC at the end of September and will permanently relocate to Australia next January. In the interim he has secured an office for the group in Pyrmont and will ‘to-and-fro’ between Australia until the end of the year. Series said the first fund the boutique would launch would be an Asia ex-Japan long short fund. The boutique does not yet have any mandates but is understood to have received some serious expressions of interest and at least one possible commitment. “At the moment it’s just me but that’s not to say I won’t do it with someone else in the future,” Series said. Series, a founder of the IOOF-backed Perennial in 1999, left the group in late 2004. Series was recruited by Mike Crivelli in 1996, then at Pacific Roads Funds Management, to head up his Asia ex-Japan fund. Pacific Roads Funds Management then partnered with IOOF to form Perennial in 1999.