Douglass to take consultancy role at Magellan
Magellan has confirmed Hamish Douglass will return to the firm in a consultancy role from October 2022.
In an announcement to the Australian Securities Exchange (ASX), the firm said he would provide investment insights, geopolitical and macroeconomic views. The consultancy role would allow him to “deliver his expertise to investors free from board, management and portfolio responsibilities”.
He would cease as a permanent member of Magellan staff from 15 June and commence the consultancy role on 1 October.
David George would now join as chief executive on 19 July, brought forward from 8 August.
Chairman, Hamish McLennan, said: "The board and Hamish have carefully considered the right balance for Hamish, for Magellan and most importantly for our clients as they navigate global markets. Hamish's appointment in this new role is another important step as Magellan moves forward as a focused global funds manager".
Douglass, who was formerly chairman and chief investment officer, announced he would be taking a leave of absence from the firm back in February.
AUTHOR
Laura Dew
Recommended for you
Research by Morningstar has found fixed income funds are bucking a general trend around managed fund fee dispersion with a smaller fee dispersion compared to equity ones.
As investors seek to diversify their portfolios, the naming of bond labels has broadened out to include green, social and impact bonds, according to the annual RIAA report.
Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million.
Metrics Credit Partners is expanding its private credit fund range with a managed fund for retail investors following investor demand.
