Great Southern branches out
Agribusiness fund manager Great Southern has branched out into equity investments with the launch of two new funds.
The two new funds — GSFM All caps Australian Share fund and GSFM Blended Domestic and Global Property Securities Fund — will be managed by three boutique fund managers.
The All Caps fund will be managed by Adam Smith Asset Management and will focus on listed companies with differing market caps.
Adam Smith has previously only been available to wholesale investors and this will be the fund manager’s first exposure to the retail market.
The property fund will be managed by SG Hiscock and Perennial with a blend of 60 per cent Australian property securities and 40 per cent international REITs.
Great Southern managing director John Young said the fund manager will still offer agribusiness investments, but felt it was time to expand into other areas.
“We now believe it is time to leverage our success in this area and offer the market a broader range of funds, with ‘best of breed’ investment managers and innovative structures,” he said.
“The launch of these two new funds marks a significant milestone in Great Southern’s history and our foray into the broader market of traditional funds management.”
The new funds will be promoted through Great Southern’s existing sales force to financial planners and accountants.
Last month Great Southern launched its Rural Opportunities Fund, which is a securitised agribusiness fund stemming from its takeover of Rural Funds Management.
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.
