Pengana appoints New Jersey-based manager to international funds
Pengana’s remaining funds that were under its former portfolio manager, Jordan Cvetanovski, and deputy portfolio manager, Steven Glass, who left the business in March will be managed by New Jersey-based Harding Loevner.
Harding Loevner would manage the Pengana Harding Loevner International Fund (formerly Pengana International Fund) and Pengana International Equities.
Last week, the fund manager announced that its international ethical funds were now managed by Axiom Investments.
Russel Pillemer, Pengana Capital Group chief executive, said: “We are extremely pleased to be able to partner with such a highly regarded team. Harding Loevner are truly one of the finest international equity managers worldwide, with an exceptional long-term track record of outperformance.
“We think that this is a very positive development for our investors – and have a high degree of confidence that they will benefit from strong long-term returns.”
Recommended for you
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
As ASIC chair Joe Longo pushes firms to prepare for the upcoming mandatory climate disclosure regime, what skills are necessary if firms are looking to expand their ESG teams?
First Sentier Investors has announced it will close four of its Australian investment teams amid a simplification of the business, with $14 billion expected to be returned to investors.
