Treasury Group in new boutique deal
Treasury Grouphas taken its fourth stake in a boutique funds management group, with a 35 per cent holding in start-up small cap investment firm, Confluence Asset Management.
Treasury Group already has 50 per cent stakes inInvestors Mutualand Melbourne-based private portfolio management group, Armytage.
It also has a 20 per cent stake inOrion Asset Management, which is managed by formerCredit Suisse Asset Managementchief investment officer, Tim Ryan, and has the option to take its holding to 49 per cent.
As for Confluence, which be fully operational from early August, it will be run by former Rothschild Australia Asset Management (RAAM) head of smaller companies, Campbell Boag, and will adopt a strong value bias in stock selection.
Campbell and the Confluence management team will own the remaining 65 per cent interest in the start-up.
Prior to joining RAAM, Campbell spent over five years with the then-branded Mercantile Mutual (nowING) where he founded its smaller company retail funds.
Treasury Group says it will “remain committed to supporting fund managers in developing their businesses, free of administration and business concerns and allowing them the time to focus fully on investment matters”.
The growth of the business will be carefully monitored with Treasury Group supportive of closing its doors to new business as and when required.
AUTHOR
Craig Phillips
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