Bennelong bags another boutique manager
Fresh from expanding its boutique offering with the addition of two former UBS small cap asset managers in May, Bennelong Funds Management is again looking to add to its manager line-up, with the addition of an Australian equity long-short absolute return fund.
Bennelong has confirmed rumours that two hedge fund managers from Herschel Asset Management have agreed to move across to the boutique fund manager, which currently manages almost $1.8 billion.
Bennelong chief executive Jarrod Brown (pictured) told Money Management the two portfolio managers who head the Herschel Absolute Return Fund, Mark Burgess and Kristiaan Rehder, plan to move to Bennelong on 1 September.
The pair will form a yet-to-be-named investment business of which they will be majority shareholders.
“They have tremendous past performance, a robust investment process and are very highly regarded in the absolute return space,” Brown said.
Earlier in the year, research house Zenith gave the Herschel Absolute Return Fund a ‘recommended’ rating for its unblemished record of outperformance in a falling market, labelling it the “undiscovered gem” of hedge funds.
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