Northward added to MLC manager line-up
MLC has added boutique investment manager Northward Capital to its Australian shares strategy in the MLC Horizon portfolios, MLC Long-Term Absolute Return Portfolio and MLC Australian Share Fund.
Weightings of the nine existing investment managers have been changed to facilitate the entry of Northward Capital, which will hold approximately 30 to 50 stocks in the portfolio.
The managers are “now more consistently weighted so that the strategy is not overly reliant on any one individual manager’s performance”, according to MLC Investment Management general manager Michael Clancy.
He added that the high conviction portfolio Northward Capital is managing for MLC is “different” to the other investment managers in the strategy.
“It is focused on identifying mis-priced companies with sustainable earnings growth, accelerating cash flows and a rising return on equity.”
Established in 2007 as a specialist Australian shares manager, Northward Capital currently has seven clients and over $1.5 billion in funds under management (FUM).
Members of the Northward Capital team were previously part of Insurance Australia Group’s Australian equities funds management operation.
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