All Star line-up increases
Retail fund manager All Star Funds is to launch an international share fund in July to add to its existing All Star Income Fund and All Star IAM Australian Share Fund.
In addition, a manager for the All Star International Share Fund is set to be appointed imminently from a current shortlist of three overseas based managers.
Managing director Kate Mulligan said local researcher Morningstar was in the final stages of the selection process for the three managers, two of which are based in London and one in Edinburgh.
Mulligan said all three short-listed managers had the “hallmarks of quality that we’re looking for in the international space, making the selection process difficult”.
Essentially, All Star is looking for a “high alpha manager that seeks to actively manage and tends to be less benchmark constrained and aware”, she said.
The launch of the new fund follows the recent launch of two multi-manager funds by All Star’s fellow specialist fund manager within Professional Investment Services (PIS), Ventura Investment Management.
The Ventura Global Opportunities Fund and the Ventura High Group 100 Fund were launched in response to adviser demand for greater diversity and an increase in international exposure.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
