Endorsements for Merrill and Ausbil
Merrill Lynch’s recent foray into Australian small caps investment management is already paying dividends, with its most recent release to the Australian market attracting a strong endorsement from a Sydney research house.
InvestorWeb has given the Merrill Lynch Australian Growth Share Fund, which was opened for inflows six weeks ago, a maximum five star rating on the strength of its investment process.
The fund was developed by Merrill Lynch as an offshoot of its two large cap funds, after portfolio manager Matthew Ryland and managing director Maurice O’Shannassy realised they were already doing enough research on small cap companies related to holdings in their large cap funds to launch a new fund.
The fund is not however a pure small caps fund, but invests in a mix of large, mid and small cap companies with a tactical asset allocation approach.
In other ratings news, one of 2004’s top performers Ausbil Dexia has been given a four star rating by Standard & Poor’s (S&P).
“The Australian equity process is well articulated and appropriately reflected in the portfolio construction. The investment team has been organised appropriately and expanded with an additional analyst,” said S&P fund analyst Anatoli Schwand.
He added: “Despite our reservations about the multiple responsibilities of the chief executive officer and head of equities, Paul Xiradis, S&P has a strong level of conviction about the depth and breadth of the manager’s ability to consistently add value in this sector.”
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
