Glebe shifts focus from retail to church groups
Glebe Asset Management(GAM) will ease back its marketing to the retail financial services space and concentrate on mandates from Anglican church groups in Australia and overseas but has stated it will still service existing retail clients with the introduction of zero entry fees.
The decision to focus on affinity groups within the Anglican church, which owns GAM, was made late last week by its parent company, The Glebe Administration Board (GAB) which says the moves will “more closely support the mission of the church”.
GAB chief executive Rodney Dredge says GAM will maintain its product range and investment process with the main shift to take place in the marketing of the business which will move towards winning mandates from affinity groups within the broad church and para-church market locally and offshore.
As such Dredge says GAM “will pull back from direct representation to the retail distribution network, however our service to retail client will not only be maintained but will be enhanced by the reduction of retail entry fees to zero”.
Part of the move will include the enlarging of GAM’s client services group to deal with the particular specialised needs of the wholesale and mandate clients.
Dredge also says that GAM will remain an ethical funds manager and the promotion of the group will focus on its performance history and socially responsible investing profile.
In February of this year GAM received its first round of ratings from research house Assirt with business management, operating capabilities and Australian shares being rated as ‘competent’.
AUTHOR
Jason Spits
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