Wavestone co-founder departs after 15 years

Graeme Burke, co-founder of boutique investment manager Wavestone, has departed the firm after 15 years.

Burke founded the company with Ian Harding and Catherine Allfrey in 2006, having previously worked together at Colonial First State.

A spokesperson for Wavestone confirmed that Burke had retired from the firm at the end of June.

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The firm, which had $5 billion in assets under management, would now be run by Allfrey and Raaz Bhuyan who joined the firm as a principal in 2014, also from Colonial First State.

It ran a flagship Australian Share fund which was launched in 2006 followed by Absolute Return then the Dynamic Australian Equity launched in 2009. The Dynamic fund was the winner in the Long/Short Equities category at last year’s Money Management Fund Manager of the Year awards.

According to FE Analytics, the Australian Share fund had returned 27.1% over one year to 31 May versus returns of 28.2% by the Australian Core Strategies Australian equity sector.

Performance of Wavestone Australian Share versus sector over one year to 31 May 2021

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