Equity trustees expands after early success
EquityTrustees Funds Management (EQTFM) has increased its existing range of funds with the development of three multi-sector funds; income, balanced and growth.
EQTFM general manager and chief investment officer Harvey Kalman says the new range are ‘blended funds’ and will be managed by EQTFM’s underlying investment managers; Vanguard, Adelaide Bank, Grange Securities, SG Hiscock and Bell Asset Management.
Kalman says money is already being invested in the blended funds and an offer document is expected in about a week.
The rollout of the new funds comes on the back of the group’s top quartile performance for 2002 based on its conservative approach.
Kalman says the operation is a “virtual fund manager” and success has come from building relationships with its managers with its star performer being its small companies fund, managed by SG Hiscock, which has returned 42.46 per cent one-year net return. The fund has $12 million of funds under management.
EQTFM has also scored some success with its high-income fund which has a net one year return of 7.34 per cent and uses boutique manger Grange Securities.
The fund manager has also achieved positive returns on most of its funds with the exception of the international and Australian equities ethical fund.
The fund manager now has $640 million funds under management, having started as a separate division in the 114-year-old company in 2000.
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
