Vertex signs Equity Trustees as RE
Melbourne-based investment group Equity Trustees (EQT) is continuing to build up its responsible entity (RE) division with the addition of alternative investment firm Vertex Capital Management to its client list.
The appointment will see EQT acting as RE for the new Australian domiciled Vertex Premium Equity Fund, which will combine Australian equities with a derivative enhancement overlay.
The new Vertex fund will be targeted at the investor directed portfolio service (IDPS) platform, high net worth and institutional markets, and adds to firm’s flagship fund, the now closed Vertex Relative Value Fund
Investors will be required to take a minimum stake in the offering of $100,000, with the group pencilling in a target ceiling of $400 million in funds under management.
Vertex, which has $180 million in funds under management largely through its flagship fund, anticipates the new fund will raise in the order of $100 million over the first 12 months.
For EQT, the deal follows hot on the heels of last week’s signing with Aberdeen Funds Management to take on the RE services for its Asian Equities Fund, China Opportunities Fund, Emerging Markets Fund and Asian Opportunities Fund.
Other clients EQT offers RE services to include SG Hiscock Asset Management, Pimco Australia, State Street Global Advisors, Grange Securities, BNP Paribas Asset Management, MIR Asset Management, K2 Asset Management and JM Asset Management.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
