Australian Ethical manager to exit after 20 years
Australian Ethical Investment has announced the resignation of Andy Gracey, a portfolio manager and 20-year veteran of the firm.
Gracey started at Australian Ethical in 2004 as an equity analyst, progressing over time to small-cap portfolio management and then full portfolio management for the flagship Australian Shares Fund in 2008.
Jumping ahead to 2015, Gracey was a founding manager of the Emerging Companies Fund, a dedicated small-cap and micro-cap fund, delivering 12.2 per cent returns per annum compared to its benchmark of 6.8 per cent per annum over the same period.
After years of service to the firm, Gracey will be handing over portfolio responsibility to the recently appointed head of equities, Nathan Parkin, from the end of September. Gracey will then remain in an advisory capacity until mid-December 2025.
Though he is new to Australian Ethical, having just joined last month, Parkin brings with him three decades of experience working in Australia’s financial markets, including 12 years at Perpetual.
On top of this, Parkin also co-founded Ethical Partners Funds Management in 2018, a boutique fund manager that closed last year after six years of operation, giving him hands-on experience with the ethical investment space.
Speaking on the departure, Australian Ethical deputy chief investment officer John Woods said Gracey delivered valuable contributions over his time.
“We’re grateful for his commitment to both the firm and our clients, and we wish him all the best in his next endeavour,” Woods said.
“We’re pleased to have a capable and experienced successor in Nathan, and we’re confident in the continued investment discipline and focus on values that have been hallmarks of our approach.”
While he will stay with the firm until the end of the year, Gracey said he was proud to have reached such a milestone in his career, noting his faith in Parkin to take over his fund responsibilities.
“I have complete confidence in Nathan’s leadership and was thrilled when he accepted the role. I’ll continue to support the business and the team through to my departure in December, and I look forward to working closely with everyone over the next five months,” Gracey said.
As he prepares to take over Gracey’s responsibilities, Parkin said: “It’s an honour to carry on Andy’s exceptional management of the fund. We’re excited by the continuing opportunities for clients in small and micro-caps, utilising our excellent pedigree in researching this part of the market.”
AUTHOR
Shy-Ann Arkinstall
Recommended for you
Having launched its first active ETF for Australian investors earlier this year, iShares says this has helped the firm reach $50 billion in assets under management in Australia.
Recommending Platinum shareholders to enact the merger with L1 Capital, Morningstar has said it expects the combined firm will be able to moderate outflows and facilitate diversity in product range.
Elanor Commercial Property Fund has appealed to the Takeovers Panel regarding the takeover offer by family office Lederer Group, describing “disclosure deficiencies” in last month’s bidders statement.
Wholesale distribution is experiencing the most active hiring efforts as the decline in financial advisers means fund managers are focusing on high-net-worth investors and wealth managers instead.
