SG Hiscock has announced changes to the abrdn Australian funds following the announcement of a strategic partnership between the two firms.
This would see SG Hiscock become abrdn’s wholesale distribution partner in Australia and distribute the firm’s international funds to the Australian market.
This would formally take place on 17 April and abrdn had notified its investors of upcoming changes.
Three investment professionals from the abrdn Australian equity team would join SG Hiscock to form an eight-person investment team, and portfolio manager Hamish Tadgell would be the lead manager.
The abrdn Ex-20 Australian Equities fund would be renamed the SGH Ex-20 Australian Equities fund, and the abrdn Australian Small Companies fund would be renamed as SGH Australian Small Companies fund.
The Small Companies fund would be managed by abrdn investment manager Shawn Lee, while the Ex-20 Australian Equities fund would be managed by SG Hiscock portfolio manager Hamish Tadgell.
There would be no changes to the investment objective or strategy of the funds or any fee changes.
A statement from abrdn said: “The decision to re-focus the local abrdn business is in response to the increasingly competitive nature of the Australian market and the need for greater local scale to be successful in delivering the best outcomes for Australian clients.
“The partnership with SGH and transfer of Australian equity strategies and key investment and distribution staff in support of that, allows abrdn to continue focusing on bringing our global investment capabilities into Australia.
“abrdn remains committed to the Australian market through differentiated investment solutions, managed accounts, active ETFs, sustainable investment strategies and digital advice.”
