Paradice pushes into big cap market
Boutique small cap equity manager Paradice Cooper Investors (PCI) has poached two investment managers from rival investment groups as part of its plan to push into the large caps sector.
Paradice Cooper Investors, formerly known as Paradice Investment Management, will officially add former Merill Lynch investment manager head of Australian equities Peter Cooper and former AXA head of Australian equities Andrew Swan to the group next month.
Cooper and Swan’s arrival at the group as its new portfolio managers has enabled it to set up a number of new investment opportunities in the large cap area for existing clients and their advisers. Cooper and Swan will be responsible for a ASX200/large cap product to compliment PCI’s small cap product.
The large cap process will be the same that is applied at the small cap level. At present PCI has funds under management approaching $300 million. The group will continue to buy stocks that grow at rates greater than the market but are priced cheaper than the market.
Prior to joining AXA, Swan worked with Cooper at Merrill Lynch where for five years they ran funds together including the groups Imputation fund, predominately a large cap product.
As well as working with Swan, Cooper has also worked with PCI small cap manager David Paradice. The pair worked together for five years at State Authorities Superannuation Board, now DMG from 1989 to 1994. Cooper and Swan will be based in the groups Melbourne office.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
