NAB takes boutique stake
National Australia Bank’s (NAB’s) direct investment management business, nabInvest, has taken a non-controlling minority equity holding in start-up boutique fund manager Wiltshire Capital.
NAB announced the equity stake today, saying it was in line with its strategy to expand its participation in direct asset management and take minority stakes in selected high-quality fund management companies.
Wiltshire Capital has been founded by the former co-founder of Cognis Capital, John Sullivan.
The initial Wiltshire Capital fund, the Wiltshire Credit Opportunities Fund, specialises in international credit market investments. NabInvest’s investment director, Nick Basile, said international credit markets had been attracting significant interest from institutional investors.
Wiltshire Capital will operate out of the United Kingdom and has entered into an agreement with PCE Investors Limited for the provision of infrastructure, risk management compliance and regulatory support.
AUTHOR
Mike Taylor
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
