Boutique fund manager and responsible investment specialist Pella Funds Management has expanded its offering by allowing direct access to investors in New Zealand for the first time.
Pella was set up in 2021 by Jordan Cvetanovski, who formerly worked as chief investment officer at Pengana Capital Group, and Steven Glass, who was Pengana’s deputy portfolio manager on the Pengana International and Pengana International Ethical funds.
The firm has now launched its flagship Global Generations Fund into New Zealand as a portfolio investment entity (PIE) structure.
While Pella is already registered in NZ, this is the first time it has used a PIE structure that allows NZ investors to directly access the fund.
The Global Generations Fund is a portfolio of 30–50 highly cash flow generative businesses that are growing and have outstanding ESG credentials. It aims to sustainably and consistently deliver greater Australian dollar returns, lower volatility, and superior ESG to the benchmark of the MSCI All-Country World Index.
Joy Yacoub, head of distribution, said: “This is a meaningful milestone for Pella as we simplify access to our fund for New Zealand investors through the PIE structure. We are proud to bring this offering to the New Zealand market, where demand for responsible investing continues to grow.”
Cvetanovski said: “With a track record of delivering on our investment objectives since 2004, we are excited to provide New Zealand investors access to our proven strategy.”
Speaking to Money Management on a Relative Return podcast episode last year, Cvetanovski detailed how he came to set up the Global Generations Fund after exiting Pengana in March 2021.
“We thought we had a product, a process, a philosophy that was unique in the market, and we thought there was an audience for that style of product, and that it made a lot of sense that a separate company should exist to offer it,” he said.
“It’s not an easy road, you have to be brave. You have to have some believers behind you and believe in what you have to offer. When we set up, we said: ‘We have a methodology, we have a process, we have a team that works well together, and we can achieve the result the market wants.’
“You take it one step at a time and get through all the phases, and before you know it, suddenly there’s a brand out there that didn’t exist three years ago and that’s wonderful.”
