Name changes and acclaim for boutique managers
Independent funds management group Dalton Nicol Reid has renamed itself as DNR Capital, stating the new moniker was consistent with its growth from small scale manager to wide ranging investment provider known for its work in Separately Managed Accounts (SMA).
DNR Capital was founded in 2001, with founding partner and chief investment officer, Jamie Nicol, stating "the ownership, management and investment philosophy of DNR Capital remain the same".
The group currently manages around $1.4 billion in funds under management for institutional, retail and individual investors, with DNR Capital chief executive, Robert White, stating the group had experienced significant growth in client base, product and service offering and funds under management over the last few years.
Perth-based boutique investment firm NWQ Capital Management has been recognised as provider of the leading fund-of-hedge-fund within the Asia-Pacific region according to data provider and alternative research firm, Eurekahedge.
NWQ's Fiduciary Fund was named the top-ranking vehicle for risk-adjusted performance among regional fund-of-hedge-fund (FOHF) investment products beating 45 other fund providers within the region.
The fund was also ranked as the number two multi-strategy FOHF in Asia Pacific in terms of the absolute value of maximum drawdown and ranked number 19 worldwide for risk-adjusted returns amongst fund-of-funds using a similar investment strategy, and number 34 against all 982 fund-of-funds.
Last month NWQ announced it would be the portfolio manager for Yellow Brick Road's Protected Equities Fund.
The Wilson Asset Management backed Future Generation Global Investment Company (FGG) has listed on the Australian Securities Exchange after raising $302.1 million in its initial public offering (IPO).
The IPO fell short of the $550 million target set prior to listing but will still be set to annually donate one per cent of its net tangible assets to support non-profits focused on Australian youth mental health.
The FGG will charge shareholders no management or performance fees, with fund managers managing capital on a pro bono basis.
FGG will be chaired by business leader and University of Sydney Chancellor, Belinda Hutchinson, while former Philanthropy Australia chief executive, Louise Walsh, and former PM Capital chief executive, Chris Donohoe, will be joint chief executives, looking after philanthropy and capital raising.
AUTHOR
Jason Spits
Recommended for you
A leading consultancy believes asset managers will be reluctant to expand overseas in 2025 as high distribution costs blow out potential benefits, but this is providing tailwinds for Australian third-party distributors.
Three of the largest ETF providers reported net inflow increases of more than 100 per cent during 2024, as Betashares admits it “underestimated” the scale of annual inflows the industry would see.
As Magellan Financial Group continues its search for a permanent chief financial officer, it has looked internally for an interim replacement.
Bennelong Funds Management has announced its first responsible entity service client, having flagged it as a 2025 priority for the firm.
