Findex makes Maverick move with Centric
Findex Group is continuing to grow its product offering through Centric Wealth's $50 million investment in US-based global equities manager, Maverick Capital.
The move comes almost a year after Findex acquired the Centric business, making it one of Australia's largest non-aligned financial advisory groups, and less than a month after it finalised the acquisition of financial planning and accounting firm Crowe Horwath.
The investment will enable Australian investors to make initial minimum investments in Maverick via Centric of $5000, and follows a detailed examination of the global equities offering in the Australian market.
Findex chief investment officer, Kieran Canavan, said the decision strengthened the group's global equity offering ahead of a forecast increase in demand for international stocks in the year ahead.
"Maverick have an outstanding track record and the expertise and stability of their team combined with a fundamentals based stock picking style mean they are an excellent fit with other international equities firms in our suite of preferred products," he said.
"Maverick manage different long/short and long global equity strategies. Centric has put a retail wrapper, or PDS (product Disclosure Statement) around the long only strategy to allow retail investors to access the fund with a much smaller initial investment than would normally be the case."
AUTHOR
Nicholas O'Donoghue
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
