Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Management changes as SG Hiscock takes over abrdn funds

abrdn/SG-Hiscock/australian-equities/

11 April 2023
| By Laura Dew |
image
image image
expand image

SG Hiscock has announced changes to the abrdn Australian funds following the announcement of a strategic partnership between the two firms.

This would see SG Hiscock become abrdn’s wholesale distribution partner in Australia and distribute the firm’s international funds to the Australian market.

This would formally take place on 17 April and abrdn had notified its investors of upcoming changes.

Three investment professionals from the abrdn Australian equity team would join SG Hiscock to form an eight-person investment team, and portfolio manager Hamish Tadgell would be the lead manager. 

The abrdn Ex-20 Australian Equities fund would be renamed the SGH Ex-20 Australian Equities fund, and the abrdn Australian Small Companies fund would be renamed as SGH Australian Small Companies fund. 

The Small Companies fund would be managed by abrdn investment manager Shawn Lee, while the Ex-20 Australian Equities fund would be managed by SG Hiscock portfolio manager Hamish Tadgell.

There would be no changes to the investment objective or strategy of the funds or any fee changes.

A statement from abrdn said: “The decision to re-focus the local abrdn business is in response to the increasingly competitive nature of the Australian market and the need for greater local scale to be successful in delivering the best outcomes for Australian clients. 

“The partnership with SGH and transfer of Australian equity strategies and key investment and distribution staff in support of that, allows abrdn to continue focusing on bringing our global investment capabilities into Australia. 

“abrdn remains committed to the Australian market through differentiated investment solutions, managed accounts, active ETFs, sustainable investment strategies and digital advice.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

2 weeks 6 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

3 weeks 6 days ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 1 day ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

3 weeks 5 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND