Watermark Funds Management completes global equities exit
The January announcement by hedge fund manager Watermark Funds Management to withdraw from global equities had its corollary on the Australian Securities Exchange (ASX) with the company announcing schemes of arrangement covering the Watermark Global Leaders Fund and the Watermark Market Neutral Fund.
The manager announced that the it was applying for the removal of the two vehicles from the official list of the ASX at the close of trading yesterday with shareholders in the two products receiving units in the Watermark Absolute Return Fund.
The move also saw the resignations of directors Matthew Kidman, John Abernethy, Stephen Van Eyk and Robert Ferguson.
Watermark announced in January that it intended to restructure its investment team to focus exclusively on Australian equities.
Recommended for you
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
Evidentia Group has hired a head of quantitative investments who joins the investment firm and managed account provider from AMP.
Fidelity International has worked in tandem with Australian wealth manager Emanuel Whybourne & Loehr to launch an actively managed global equities strategy aimed at financial advisers.
