HFA Asset Management chief investment strategist leaves company
The chief investment strategist and a director of HFA Asset Management, Jonathan Pain, has left his position to establish an online publishing business. Pain has been publishing his investment newsletter, the Pain Report, since 2004. He will remain as a non-executive director of HFA.
His responsibilities will be assumed across the current investment team, with many of his functions being transferred to the Lighthouse Partners team.
HFA joint managing director Oscar Martinis said Pain had been an integral part of the HFA team. HFA has been taking steps to ensure a smooth transition of his role, he said.
Pain has previously been the chief investment officer of Rothschild Australia Asset Management and head of investments at Gulf International Bank.
HFA Holdings, the parent company of HFA Asset Management, saw its funds under management plunge by 29 per cent over the last financial year, while assets under management fell even further, dropping 34 per cent to $6.16 billion. The company recorded a rise in net revenue of 25 per cent over the same period.
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