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”.
AUTHOR
Liam Cormican
Recommended for you
Natixis Investment Managers has hired a distribution director to specifically focus on the firm’s work with research firms and consultants.
The use of total portfolio approaches by asset allocators is putting pressure on fund managers with outperformance being “no longer sufficient” when it comes to fund development.
With evergreen funds being used by financial advisers for their liquidity benefits, Harbourvest is forecasting they are set to grow by around 20 per cent a year to surpass US$1 trillion by 2029.
Total monthly ETF inflows declined by 28 per cent from highs in November with Vanguard’s $21bn Australian Shares ETF faring worst in outflows.
