Spectrum Asset Management will see the departure of Damien Wood, head of research, and Rick Steele, director, while adding Darren Raward as head of research and portfolio analysis, and Christina Chan as operations manager.
Wood was known for his research and ‘credit insights’ and leaves after five years with the company, while Steele had stepped down from the board to focus on other business interests.
Spectrum claimed the changes would not impact their credit decisions and their credit processes would remain unchanged.
Raward would oversee the credit and portfolio analytics, while the day to day management of investment portfolios would continue to be managed by Lindsay Skardoon, portfolio manager.
Raward had over 25 years’ experience covering research, portfolio and credit analysis in the Australian financial markets.
Chan joined as the newly created position of operations manager, and was a certified public accountant (CPA) and business manager.
Spectrum’s Strategic Income Fund had returned 5.07 per cent for FY19 and a paid distribution of 4.51 per cent.