Asia comes to Treasury Group
Listed funds management holding company, Treasury Group, will shortly launch its second Sydney-based manager of offshore equities, this one led by Peter Sartori formerly of Credit Suisse Asset Management (CSAM).
Treasury Asia Asset Management (TAAM) will open for business on August 1, and the former CSAM Australian and Asian equities boss will hold the majority of the 60 per cent staff stake, with Treasury Group owning the rest and also supplying backoffice and business support functions.
Treasury Group also owns one quarter of Global Value Investors, the Sydney-based contrarian international shares shop run by Roy Chen, in partnership with Investors Mutual and staff.
Sartori has recruited two analysts to support him at TAAM, but neither are from the Asian equities team he coaxed to Sydney for CSAM. According to Treasury Group chief executive David Cooper, one is a chartered financial analyst with experience in Sri Lankan and US large cap equities, the other a local junior.
Three funds are planned for TAAM, aimed at institutional and platform consumption. Two of them are Asia ex-Japan funds with a tracking error between 4 and 8 per cent, one with an Australian equities component for offshore customers, the other ex-Australia for local investors.
The third fund is an absolute return vehicle, which will draw additional advice from Sartori’s friend Marc Faber, a well known Asian expert and author of the notoriously bearish GloomBoomDoom Report.
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