Pengana, BGI ramp up distribution

Pengana Capital and Barclays Global Investors (BGI) are both stepping up their dealer group and platform focus with the appointment of a national distribution manager and a national account manager respectively.

Pengana, which now has $75 million in funds under management after launching last year, has signed up former APN Funds Management national sales manager Louise Thomas to push its products to platforms and dealer groups.

Meanwhile, BGI has appointed former ING product distribution and sales national manager, Paula Day, to develop and manage the group’s master fund and wrap account client base.

Pengana Capital head of hedge funds Damien Hatfield says the group is now looking to consolidate its existing offerings rather than launch new products or seek further distribution arrangements.

“We’ve only been in operation for twelve months so what we want to do now is consolidate the products that we have already,” Hatfield says.

Pengana has a property securities, a small caps and a listed hedge fund incubator offering. It also acts as distributor to Chicago-based HFR Asset Management fund, with Aurora Funds Management having the role of responsible entity.

At BGI, Day’s appointment stems largely from a rise in volume sales for the group after gaining approval on more platforms and dealer group recommended lists.

Day commences in early September and reports to BGI director adviser services Tim Bradbury.