Macquarie books Concord
Concord Capital is the first boutique funds manager selected by Macquarie Bank to manage a fund in its Professional Series.
And in a further endorsement for the manager, van Eyk has added Concord Capital to its Blueprint offering in its Australian equities asset class on the strength of the experience and analytical insight of its investment team, and its multi-portfolio manager approach.
Concord Capital is the fourth manager to be added to Macquarie Professional Series since its launch in March 2005.
“Concord is a great Australian equities manager and that is why we saw them as being a good fit for the Professional Series.
“It will be the first Australian equities manager in the Professional Series, which already has outstanding international equities managers Morgan Stanley and Walter Scott,” Macquarie Bank division director, financial services group, Peter Shepherd said.
The Macquarie Concord Australian Equity started taking in money from wholesale investors in October. A Macquarie spokesperson said the fund would not be officially launched until February 2006, although it is now open to investors.
Macquarie expects its Professional Series to include partnership arrangements with between eight and 10 external managers and indicated earlier in the year that the series will include one more Australian boutique manager.
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