In May 2025, the Celeste directors made the decision to close the business.  Perpetual as Responsible Entity of the Celeste Australian Small Companies Fund were notified and a decision was made to terminate the Fund.  Unitholders were advised on 20th May 2025.

Paul Biddle, Executive Chairman said “After two decades at Celeste, the time has come to close this chapter with immense gratitude and pride. Over the past 20 years, we’ve navigated markets with discipline, caution, and conviction. We have delivered long term tax-effective returns for the Celeste Australian Small Companies Fund, outperforming our benchmark by 164 basis points per annum after fees. This would not have been possible without the dedication, professionalism, and integrity of our exceptional team, nor without the trust and support of our valued clients, many of whom have been with us since the beginning. To each of you: thank you for allowing us the privilege to steward your capital. It has been an honour.”