Former UBS head starts own fund
Former UBS managing director Colin Woods has launched his own funds management house, Pan-Tribal Asset Management.
The firm aims to source financial products from investment managers around the world that are currently unavailable in Australia.
It comes as Woods found that while the Australian market is appealing to the world, feasibility issues and obstacles of operating in Australia are not being tackled.
The firm will also provide asset management capabilities across a range of asset classes and investment strategies.
The firm launched the Pan-Tribal Global Equity Fund late last year, which is being managed by New-York based investment manager Davis Advisors.
Zenith gave the fund an 'approval' rating in its annual International Shares Sector Report.
The firm's Australian financial services licence is limited to general advice for wholesale clients only without looking at objectives, or financial situation of the client.
Woods said Davis Advisors were appointed as the sub-investment manager for the equity fund after a 12 month global search and selection process.
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