Ascalon takes Morphic stake
BT Financial Group’s Ascalon Capital Managers Limited has acquired a minority stake in Sydney-based global long/short equity fund manager, Morphic Asset Management.
The transaction was announced to the market this week with the two companies saying Ascalon would be investing in Morphyic’s underlying strategy.
Ascalon is the boutique asset manager investment arm of BT Financial Group.
Morphic was co-founded in 2012 by former long term colleagues at asset manager Hunter Hall, Jack Lowenstein and Chad Slater.
Commenting on the transaction, Ascalon chief executive, Chuak Chan said Morphic had all the hallmarks of being a leading international equities manager and that the acquisition was further evidence of Ascalon’s ambition to partner with quality teams and investment management companies throughout the Asia Pacific region.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
