Allan Gray’s fund added to Macquarie Wrap
The Allan Gray Australia Equity Fund (Class B) has now been added to Macquarie Wrap, with the Allan Gray Australia Equity Fund (Class A) already available on the platform.
According to the company, the two funds were identical, other than their fee structure, with class A charging a base fee plus performance fee while class B charging a zero base fee and a performance fee.
The company’s chief operating officer, JD de Lange, said that a performance-based fee provided greater alignment between risk and reward.
“The addition of our class B Fund to the platform means advisers who use Macquarie Wrap can access the same actively managed, contrarian fund but only pay management fees when we outperform,” he added.
“A client will only pay the performance fee where the fund’s outperformance exceeds the high water mark. This is the highest level of outperformance compared to the benchmark since the fund was launched.”
AUTHOR
Oksana Patron
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
