Research house van Eyk has dropped Macquarie’s style neutral Alpha Plus Fund as an underlying investment from its Blueprint Australian Shares Fund in favour of competitor Suncorp Investment Management’s Australian Equities Fund.
Suncorp takes over Macquarie’s full 20 per cent allocation of the Blueprint fund, adding to its $12 billion funds under management, $3.4 billion of which are held within the Australian Equities Fund.
The change follows van Eyk’s 2005 Australian equities review in which Suncorp’s fund was awarded an ‘A’ rating, while Macquarie’s fund was downgraded.
Suncorp head of Australian equities Denis Donohue said his investment team had delivered a consistent performance through a research driven, “bottom-up” stock selection process.
“Our equities research analysts focus on specific sectors. They are the portfolio managers as well, which gives them absolute responsibility for all the stocks, the price and timing to buy or sell,” he said.
“As part of their fundamental research process, the equities group conducts approximately 500 meetings a year with companies.”
Donohue said Suncorp’s process aimed to identify stocks with the best-expected return, regardless of perceived style.
Macquarie Funds Management will continue to administer van Eyk’s Blueprint series.
