David Slack heads new funds management company
After sitting on the sidelines of the funds management game for the past five years, former Portfolio Partners joint managing director David Slack has formed a new funds management company with privately owned financial services organisation the Bell Group.
The new business, Karara Capital, is a boutique, active investment manager with both Australian and international equity capabilities.
It was created by absorbing the Bell Asset Management business under a new management structure and brand, of which Slack, Karara’s managing partner, and his team of senior managers own a 54 per cent share, with the remaining 46 per cent belonging to the Bell Group.
Former Invesco Australian equities head Rohan Walsh and portfolio manager Luke Sinclair have joined the new business and will co-manage Australian equities.
As part of its Australian equities strategy, Karara will target both institutional clients and the intermediary market with an initial focus on long-only active investment.
Over time it plans to develop a long-short capability in Australian and international equities.
Karara international equity portfolio manager Ned Bell has moved across from Bell Asset Management where he had a six-year track record in the same role.
Speaking on the new venture, Slack said the new team’s collective investment experience across all market conditions will be one of Karara’s key strengths.
“This is an exciting opportunity to build on what was here in Bell Asset Management, which has been managing Australian and international equities with a small team of quite good people,” he said.
“Over the years the Bell Group has demonstrated a long-term business focus — this critical element will enable us to build a strong, independent and investment-led funds management company.
“We believe our structure gives us a real advantage; employee ownership aligns our interests with those of our clients, while we have the backing of the privately owned Bell Group.”
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
