(20-Jan-2005): Other boutiques on the move
Ausbil Dexia : Although Ausbil Dexia is not new to the boutique scene, having first pushed its way into the Australian market in 1997, a number of research analysts predict that a fresh management team will improve the style neutral Aussie equities manager’s already impressive performance. With over $2 billion under management, the company is still 48 per cent owned by employees.
“As a boutique firm, they’ve got some solid processes. They’ve been plying their trade for a while, they’re just probably starting to get some increased traction, particularly in the retail market, so we think it’s a firm that will do well next year and certainly will attract a larger chunk of assets,” one Morningstar analyst says.
Orion Asset Managemen t: With 30 per cent of the company backed by the Treasury Group and the other 70 per cent owned by employees, Orion Asset Management is another young boutique fund mentioned by some research houses as a possible star of the future.
The bottom-up style equities manager was formed in 2002 by a group of former Credit Suisse Asset Management employees, led by ex-CSAM head of equities and chief investment officer Tim Ryan.
Ryan’s respect in the industry was highlighted shortly after when Chris Cuffe earmarked Orion for an exclusive distribution deal with Challenger Financial Services.
The company received a windfall in October 2003 when it won 10 per cent of Russell’s Australian share fund, a move that more than quadrupled Orion’s funds under management to over $300 million.
Herschel Capital Partners: One of the few boutique fund managers to provide individually managed accounts, Herschel Capital Partners is a bottom-up style Australian equities manager picked by several research houses as a rising star.
Formed in 2000 by former Merrill Lynch fund manager Saxon Nicholls, the manager achieved impressive returns of 32.3 per cent in 2004.
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