Ascalon increases stake in H3 Global advisors
Westpac-owned boutique funds management incubator Ascalon Capital Managers has acquired another 15 per cent stake in absolute return fund manager H3 Global Advisors, increasing its overall equity to 45 per cent.
“We have been extremely pleased with our investment in H3 Global and this further increase in our equity stake reflects our confidence in H3 Global’s ability to continue outperforming despite volatility in some key markets,” said Ascalon chief executive Andrew Landman.
“The growing impact that H3 Global is making on the investment sector has been acknowledged by its invitation to attend the prestigious Goldman Sachs Global Macro and CTA Hedge Forum now underway in New York, where [H3 Global principal] Mathew Kaleel is the only boutique fund manager in the Asia Pacific region who will address delegates,” Landman said.
H3 Global, which was also named winner of Standard & Poor’s Emerging Fund Manager of the Year in November 2009, has increased its funds under management by more than 50 per cent to approximately $250 million and expects to raise additional funds under management in coming months, the company said.
H3 Global Advisors is one of seven boutique funds management firms partnered by Ascalon.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.