Prime Value appoints distribution head from Magellan
Prime Value Asset Management has appointed a head of distribution who joins the firm after nine years at Magellan Financial Group.
The firm has hired Mark Jordan who was formerly the head of retail distribution at Magellan until his departure in November 2023. Prior to being appointed to the senior role, he worked as a key account manager.
He has a 24-year career in funds management, having also spent time at Fidelity International and Perpetual Investments before joining Magellan in 2015.
At Prime Value, he will be based in Sydney and focus on building strong relationships with the intermediary market, primarily across its Australian equity small-cap products.
He said: “Prime Value is building momentum from its ability to create best-of-breed funds in asset classes and strategies where it can make a difference for investors.
“Prime Value has an impressive equities team, with its small cap Prime Value Emerging Opportunities Fund showing consistent outperformance across varied market conditions. The combination of targeting quality investments with stewardship and care is what a successful Australian-owned boutique is all about.”
The firm’s CEO and co-founder, Yak Yong Quek, said: “With his deep understanding of investment products and breadth of relationships in the intermediary space, Mark will bring a wealth of knowledge and experience to the role.
“He will work closely with our director of distribution, Julia Desimone, in growing our presence among the private wealth groups, financial planners and dealer groups.”
Desimone was appointed to the firm in March from Investors Mutual (IML) as director of distribution covering listed equities, property and alternative assets.
Founded in 1998, Prime Value now manages around $3 billion in assets under management together with its sister firm Shakespeare Property Group across a variety of funds covering Australian equities, income securities, mortgages, property and alternatives. This includes numerous specialist funds including Dairy Trust, Citrus Trust and Growth Infrastructure.
Last November, it launched its latest alternative assets fund, the Prime Value Retirement Living Fund 2, which is available for wholesale, high-net-worth investors and family offices. The fund invests in four A-grade villages in Victoria, comprising approximately 900 dwellings.
It is part of an expansion of investment solutions which has seen Prime Value introduce funds in direct property, income securities and alternative assets, including dairy farms, in addition to its flagship Australian equities funds over the last 10 years.
AUTHOR
Laura Dew
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