In a year when rockstar investment managers have imploded, departed or retired, it’s somewhat ironic that the theme of Pendal’s office Christmas party is rockstars. The end-of-year celebration, at Sydney’s Hotel CBD on King Street, was booked several months ago, well before the drama of a takeover bid unfolded.

But once the hangovers are nursed, and barring a final twist, Pendal staff will be among the shareholders who will vote on December 23 to approve its acquisition by cross-town rival funds management Perpetual.