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Ex-IML portfolio manager launches new boutique

Posted by Anton Murray Consulting on . Posted in News, Funds Management News

InvestorDaily

Former Investors Mutual portfolio manager Jason Teh has struck out on his own to launch equity income boutique Vertium Asset Management. Vertium Asset Management is a new equity income boutique founded by former Investors Mutual Limited (IML) portfolio manager Jason Teh. The company is being launched today in partnership with Melbourne-based boutique investment management firm Copia Investment Partners, which will market and distribute the Vertium Equity Income Fund.

Mr Teh, who is also Vertium’s chief investment officer, spent nine years as a portfolio manager on IML’s equity income fund and has 18 total years of experience in the industry. He will be supported in his new venture by portfolio managers Sam Dyson and Daniel Mueller as well as equity analyst Trent Crawley. Mr Dyson joins Vertium from Maple-Brown Abbott, while Mr Mueller makes the move from Forager Funds (prior to that, he was Mr Teh’s colleague at IML).

The rest of this article can be found at investordaily.com.au.

Westpac to sell Hastings to Charter Hall

Posted by Anton Murray Consulting on . Posted in News, Funds Management News

InvestorDaily

Westpac has entered into discussions to sell Hastings Management, its global infrastructure real assets business, to Charter Hall. In an announcement posted this morning on the ASX, Westpac said it has entered into “exclusive discussions” with Charter Hall regarding the bank’s proposed sale of Hastings. Hastings has operated for more than 22 years and is headquartered in Australia, with offices in “Melbourne, Sydney, New York and Asia”, according to Westpac.

The company currently has funds under management of approximately $14.3 billion managed by around 100 staff. The ASX announcement said Charter Hall Group “believes the proposed sale provides an attractive expansion opportunity for Charter Hall across retail assets funds management”. “Any binding arrangements in relation to the proposed sale and purchase remain subject to completion of due diligence, regulatory and board approvals,” said the Westpac statement.

The rest of this article can be found at investordaily.com.au.

AMP Capital appoints non-executive directors

Posted by Anton Murray Consulting on . Posted in News, Funds Management News

InvestorDaily

Former Suncorp banking and wealth chief executive John Nesbitt, former Investa Office Fund portfolio manager Ming Long, and former Herbert Smith Freehills partner Peter Rowe have been appointed to the AMP Capital Funds Management Limited (AMPCFM) and AMP Investment Services Pty Limited (AMPIS) boards. Mr Nesbitt, Ms Long and Mr Rowe will serve alongside AMP Capital chief executive Adam Tindall and AMP Capital chief financial officer and chief operating officer Margaret Payn. As a result of the appointments, the boards of both AMP Capital entities will now comprise a majority of independent, non-executive directors.

Mr Tindall said, “I’m delighted to welcome John Nesbitt, Ming Long and Peter Rowe to our two AMP Capital RE and trustee boards. All three have a wealth of industry experience and will enhance the governance of our domestic investment offerings while allowing for increased independent oversight. AMP Capital is committed to operating to the highest standards of corporate governance to best serve and protect our clients and investors. While we have always complied with the regulatory requirements in relation to independent oversight, we have decided to go one step further and increase the independence of these boards.”

The rest of this article can be found at investordaily.com.au.

NAB Sells JANA Stake in Management Buyout

Posted by Anton Murray Consulting on . Posted in News, Funds Management News

AFR

NAB has agreed to sell a 55 per cent stake in asset consultant JANA to a group of senior executives in a management buy out to be completed in the next three months. The influential asset consultant, which started life as John Anthony Nolan & Associates, advises institutions on how to invest more than $350 billion in assets and employs around 80 staff. The management buyout will deliver equity to around 25 executives and senior managers.

The value of the transaction was not disclosed. JANA chief executive Jim Lamborn said that the equity model would help the business retain and attract talent while offering the company a flexibility similar to consulting, legal and accountancy practices. “Those entities are quite agile, someone walks in the door and they can throw the resources they need at the client. This gives us the best of both worlds, the flexibility and a strategic partnership with a financial powerhouse,” Mr Lamborn said.

The rest of this article can be found at afr.com.

Hamilton Lane Opens Sydney Office

Posted by Anton Murray Consulting on . Posted in News, Funds Management News

InvestorDaily

US-headquartered alternative asset manager Hamilton Lane has expanded its presence in Australia by opening an office in Sydney. US fund manager Hamilton Lane has opened its 14th global office in Sydney, appointing former Partners Group executive James Martin to head up its new Sydney office. Hamilton Lane chief executive Mario Giannini said he was excited to formally establish a presence after having been active in the Asia-Pacific region for nearly a decade.

“We believe this expansion will allow us to provide a deeper level of market coverage and client service and we’re pleased to welcome James [Martin], who brings a strong understanding of the local market dynamics, challenges and opportunities,” Mr Giannini said. Prior to heading Hamilton Lane’s Sydney office as principal, James Martin was vice president at Partners Group AG for five years. Mr Martin also spent 10 combined years at Pinnacle Investment Management and Macquarie Group.

The rest of this article can be found at investordaily.com.au.