Pengana appoints equity fund manager
Pengana Capital has appointed Jeremy Bendeich as a portfolio manager to its High Conviction Equities fund.
Working alongside current manager James McDonald and investment analyst Veronica Price, Bendeich joined Pengana from Avoca Investment Management which he co-founded and was chief investment officer.
Prior to this, he worked as a small-cap fund manager at UBS, an investment analyst at Colonial First State and economist and policy adviser in the Australian and New Zealand Government Treasuries.
The High Conviction Equities fund was a concentrated, ethically-screened portfolio which held around 20 Australian and global companies, with a particular focus on IT, healthcare and materials.
Pengana chief executive, Russel Pillemer, said: “Since the fund’s inception in 2014, the fund has significantly outperformed its benchmark across all time periods, having returned an average to 32.8% per annum to investors.
“It is a highly sought-after product from Pengana’s high net worth investors and private wealth offices.
"Jeremy has 26 years of investing experience, looking predominantly at small and emerging companies, across all market cycles. Whilst this has been largely in an Australian context, we believe that Jeremy’s skills as an investor are more relevant than a particular background in international investing, especially given the breadth of the market with 10,000 companies."
According to FE Analytics, the Pengana High Conviction Equities fund had returned 40.3% over one year to 30 June, 2021, versus returns of 28.3% by the global equity sector within the Australian Core Strategies universe.
Performance of Pengana High Conviction Equities fund versus sector over one year to 30 June 2021
AUTHOR
Laura Dew
Recommended for you
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.
Momentum Media’s wealth brands are hosting Election 2025, an exclusive event examining the federal election’s impact on the economy, financial advice, and superannuation – analysing party policies and insights from key stakeholders.
