Ellerston Capital buys stake in Morphic
Ellerston Capital has announced it has acquired a controlling interest in Morphic Ethical Equities Fund’s (MEC) manager, Morphic Asset Management, which is a specialist investment manager in alternative strategies such as separately managed accounts (SMAs).
Under the terms of the deal, Morphic would become a subsidiary of Ellerston, and Morphic’s founders, Jack Lowenstein and Chad Slater, would continue to run the funds while gaining access to Ellerston’s wider analyst pool and infrastructure.
“We believe that under the wing of Ellerston, we gain access to Ellerston’s experienced investment team and we substantially improve our reach to investors whose aim is to build wealth by following the principles of socially responsible investing,” Lowenstein commented.
According to Morphic Ethical Fund’s chair’s JoAnna Fisher, the transaction was expected to be a positive development for the fund and would support the fund’s marketing efforts.
Recommended for you
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
