Boutique manager focuses on independent growth post buy-out
Boutique manager, Wheelhouse Investment Partners, has announced it will pursue independent growth following the buy-out from Bennelong Funds Management as both parties agreed for Wheelhouse executives to acquire Bennelong’s stake following a three-year partnership.
The manager said it would continue to focus on delivering purpose-built investment solutions that target income and protection for Australian retail and wholesale investors, including its flagship Global Equity Income Fund.
Wheelhouse also agreed terms with new distribution partners and appointed a new responsible entity for its offerings, which would be announced later this month. Further to that, the firm planned to launch an Australian equities focused fund, which would apply the same rules-based and disciplined derivatives strategy used for the global fund.
“We are excited to take full ownership of our business and extremely grateful to Bennelong for its support in establishing and positioning Wheelhouse for future success,” Alastair MacLeod, Wheelhouse managing director, said.
“We remain fully committed to delivering defensive income for Australian investors challenged by today’s ‘lower for longer’ equity growth environment and historically low interest rates. We look forward to leveraging our track record and momentum to pursue new opportunities.”
The buyout and transition arrangements would be finalised by 31 July, 2020.
Performance of Wheelhouse Global Equity Income fund versus MSCI World ex Australia and AMI Absolute Return sector since inception to 14 April, 2020
AUTHOR
Oksana Patron
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
