Boutique manager WHTM Asset Management (WHTM) is set to rebrand as Hyperion Asset Management and offload the distribution of its Australian equity and smaller company unitised products to The Private Collection, leaving the group to focus on cracking into the institutional market.
Under the change, four key WHTM executives, including group founder Manny Pohl and Timothy Samway have purchased a 30 per cent interest in the new group.
“Hyperion’s deep growth style, mid-cap bias, benchmark insensitivity and a longer investment horizon means we are a good choice as a satellite manager for many large institutions looking for negative correlation to other managers,” Samway said.
Pohl, Samway and fellow colleagues Mark Arnold and Joel Gray have also written into the deal a provision to increase their holding in the new group to at least 40 per cent by 2007.
Pohl, Samway and Arnold have sold down their substantial interest in the former parent, the Wilson HTM Investment Group.
“To attain best practice in the institutional market, we felt it was essential that the interests of the key staff members, the company and its clients were aligned,” Pohl said.
“By selling down our holding with the assistance of the parent company we now have a structure that achieves that.”
The group’s former parent will retain a 50 per cent interest in Hyperion, with the remaining 20 per cent held by associated parties.
Launched in February this year, The Private Collection offers marketing services to boutique, institutional and international fund managers. It is headed up by a former Assirt head Krystyna Weston, along with financial planning industry consultants, Tom Collins and Sarah Brennan
