Swell launches retail trust, appoints CEO



High conviction global equities boutique, Swell Asset Management, has launched a retail trust and has appointed Stephen Poole as its chief executive.
The Swell Global Fund (SGF) was previously only accessible to wholesale investors, including high net wealth investors and family offices, with Perpetual as responsible entity and Mainstream Group as fund administrator.
SGF held a concentrated portfolio of around 15 companies and was based on the group’s absolute return strategy which surpassed over $100 million in funds under management.
Swell chief investment officer, Lachlan Hughes, said the decision to launch a retail fund after six years of exclusively managing wholesale investors’ money, was driven by increasing retail demand for an active strategy that did not hug the index.
Poole said: “Our aim is to make it easy for investors and advisers to access our capabilities. We want to facilitate choice and allow investors and advisers to choose how they invest with us, be that a wholesale fund, separately managed account or a retail trust”.
Recommended for you
L1 Capital has confirmed it intends to vote against the conversion of the Platinum Capital LIC into a listed ETF, meaning the deal “has a high probability of failing” due to L1’s substantial shareholding.
Betashares is to merge its managed account business with InvestSense to form a purpose-built option for financial advisers, forecasting a positive outlook for future industry growth.
With fund managers using ETFs as a way to reach the adviser market with a diversified product range, Betashares has shared how many ETFs were listed and closed during the first half of 2025.
Platinum Asset Management’s head of investment, Douglas Isles, has departed the fund manager after 12 years as the firm reshapes the business amid a merger with L1 Capital.