Bennelong stretches globally
Bennelong Funds Management (BFM) has partnered with US-based equities manager, Security Global Investors (SGI), and launched its global equities capability.
Named Bennelong SGI, the team will initially manage a global equities (long only) fund, however, it plans to roll-out additional funds in coming months.
BFM’s chief executive officer Jarrod Brown said, “obviously we’re keen to continue growing in-house asset management capabilities, but we made a decision that it would be virtually impossible to replicate locally the calibre of global investment capability we have discovered in SGI”.
Speaking about Bennelong, SGI chief executive Rich Goldman said, “we’re very comfortable with the logic behind their growth strategy. Our business models are aligned and their boutique structure and culture provide an excellent fit with SGI’s.
Recommended for you
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
New Zealand’s financial regulator is following the footsteps of its Tasman neighbours and proposing to conduct a review on improving the accessibility of financial advice and advice business models.
Lower fees and trustworthiness are the top factors enticing unadvised Australians to seek a financial adviser, according to Fidelity International, common across all generations.
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
