GSFM appointed as RE of growth fund
Grant Samuel Funds Management (GSFM) has been appointed as responsible entity (RE) of the Munro Global Growth Fund.
It would replace Munro Asset Management, the Australian Financial Services Licence (AFSL) holder for Munro Partners, which was the previous responsible entity of the fund.
GSFM and Munro Partners have been working together since June, with GSFM distributing the fund in the Australian and New Zealand markets.
Following this change, management fees will be reduced from 10.25 per cent to 10 per cent inclusive of GST.
The fund is index unaware and invests in international listed equities deploying a long/short strategy.
GSFM’s chief executive, Damien McIntyre said: “As a result of the change of RE, we will be able to offer unitholders a reduction in management and performance fees, and an amendment to the performance fee hurdle rate.”
GSFM acts as RE for four other funds with $2.7 billion under management.
AUTHOR
Oksana Patron
Recommended for you
Russell Investments has partnered with financial advice firm Invest Blue to launch a managed portfolio offering to deliver broader private market access for Australian advised investors.
Franklin Templeton has continued the review of its fixed-income fund range, with multiple changes announced across 15 funds, including several management fee reductions.
Insignia Financial has reported net inflows of $448 million into its asset management division in the latest quarter, as well as popularity from advisers for its MLC managed accounts.
With ASIC questioning the dominance of research houses when it comes to retail usage of private market funds, a research house has shared how its ranking process sits alongside ASIC’s priorities.
