Orion Asset Managementhas certainly made a splash into the boutique funds management pool. The group was established at the end of 2002, and in February this year will celebrate the one year anniversary of three of its funds.
While Orion doesn’t hold a one-year performance record yet, it has already taken more than $500 million in funds under management and been picked up by a number of larger players as an underlying manager. Orion manages 25 per cent ofChallenger Financial Services’ Boutique Australian Share Fund, which was launched late last year, and is also one of four underlying managers for theTreasury Group’snew listed boutique Australian equities fund-of-funds company — Premium Investors.
Challenger and Orion are also partners in an exclusive retail distribution deal for the Challenger Orion Australia Share Fund — Orion is the sole manager — which was launched in September last year.
The group’s three other funds are the Orion Australian Share Fund, the Orion Leaders Fund (a portfolio selected from the largest 100 listed companies) and the Orion Discovery Fund (selected from outside the largest 100 listed companies).
Orion Asset Management business manager Dominic Fallins says the group plans to cap funds under management at the $3 billion mark. Currently the group’s three products are available as segregated mandates with a minimum investment of $50 million, while wholesale pooled funds are also available for those with a minimum investment of $500,000.
The investment team consists of Tim Ryan, who acts as director, chief executive and chief investment officer, and portfolio managers John Lobb and Dushko Bajic — all three coming fromCredit Suisse Asset Management.
Fallins says on the wholesale side the group is conscious of maintaining “a large enough capacity for clients to grow with us over the year,” and is also very positive about the relationship with Challenger and exposure to the retail market.
Beginner’s luck, or just the start of many beautiful relationships? Only 2004 will tell.
