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."
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