Australian stockbroking firm Patersons Securities has expanded its focus with the launch of a new funds management division called Patersons Asset Management.
Patersons Asset Management plans to service the retail, institutional and wholesale investment markets, with its first fund, the 80:20 Fund — a retail and wholesale fund with a majority focus on ASX 200 stocks — expected to be released in January 2008.
The new business also plans to offer structured products targeted at the Asian investor market.
The division will be headed by Howard Knight, former senior vice-president and head of the investment management division of Lehman Brothers based in Singapore.
Knight was previously an executive director, alternative and quantitative investments with UBS Global Asset Management and an executive director of USB Warburg.
