Bell to focus on international equities
Bell Asset Management (BAM), formally Karara Capital, will restructure its business, with the new entity to focus on international equities.
The restructure will see BAM retain its interests in the Bridgewater Managed Funds and Global Mining Investments (GMI), while the Australian equities side of the business will be outsourced to a new entity that is to continue operating under the Karara Capital name.
As a result of the restructure, BAM has announced the appointment of Ned Bell as chief executive, who will continue to be responsible for managing the international equities portfolio along with Adrian Martuccio, Mark Kelly and Joel Connell, while Nick Fels has been appointed chief operating officer.
BAM will be owned by the Bell Group and key members of the investment team.
It had over $2.5 billion in assets under management at October 2008, including funds managed by Bridgewater Associates and GMI.
The restructure is expected to be completed by early December 2008.
Recommended for you
The former chief executive and co-founder of Zenith Investment Partners has switched sides and moved in-house to take up an executive role at a listed fund manager.
The “experiment” away from vertical integration has been a mistake, according to Clime’s Michael Baragwanath, and Clime is positioning to benefit via advice and fund manager acquisitions.
JP Morgan Asset Management has identified Australia as an “emerging growth market” as it seeks to double its assets under management in the Asia-Pacific region in the next five years.
Australian Ethical funds under management were $14.3 billion at the end of September, with its investment division seeing inflows return after outflows in the previous quarter.
