New direction for WRF
Listed funds management group WRF Securities will expand its activities to include global property and alternative investments asset classes through the appointment of Maurice Kluge as its new managing director.
The hiring of Kluge includes the acquisition by WRF of his 50 per cent stake in two funds management businesses that offer investment vehicles in these two asset classes.
WRF Securities executive chairman Robert Nichevich said: “We will now be able to add products for our retail investors via our new asset classes and offer products to a wider range of clients, including wholesale and institutional investors.
“Much of WRF’s strategic redirection is informed by the immense weight of capital in Australia and the demand by investors for global alternative assets to provide outperformance,” Kluge said commenting on his new role.
Recommended for you
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
Australian investors are more confident than their APAC peers in reaching their financial goals and are targeting annual gains of more than 10 per cent, according to Fidelity International.
Zenith Investment Partners has lost its head of portfolio solutions Steven Tang after 17 years with the firm, the latest in a series of senior exits from the research house.
