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
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
