Fisher Funds is bulking up its fund team after promoting Ashley Gardyne to chief investment officer last week.
In a note to investors, Fisher says with Gardyne stepping into the role previously occupied by Frank Jasper the firm was “also taking this opportunity to employ three more analysts into the investment team – two for the international equity fund and one within the middle office”.
“They will be starting at Fisher Funds in August,” the note says.
As reported here in April, Jasper eased back from full-time CIO duties earlier this year in preparation for a leadership change. Fisher was working with the senior investment team to manage the transition, he said at the time.
Jasper, who officially ended a 15-year tour with Fisher last week, has been moonlighting as the chief financial officer with NZ trucking compliance software firm, Whip Around. He is based in Wanaka.
Meanwhile, Gardyne assumes the wheel (effective July 1) at Fisher following an eight-year career at the $14 billion plus investment business, most recently as international equities senior portfolio manager.
Bruce McLachlan, Fisher chief, said in a release that Gardyne would ensure “continuity of our investment approach and investment DNA infused with new energy and insights”.
“Ashley will build on Fisher Funds’ already outstanding track record of investment performance which last month saw Fisher Funds become the first investment team to win both INFINZ Fund Manager of the Year award categories in the same year,” McLachlan said. “Planning for this change has been underway for some time and I’d like to thank Frank for his work leading our investment team and we wish him all the best for the future.”
Also last week, First Mortgage Trust (FMT) – the largest fund of its kind in NZ with over $1 billion under management – has named Paul Bendall as chief executive, starting from September 3.
Bendall will replace incumbent, Tony Kinzett, who retires after 15 years at the mortgage investment firm.
First Mortgage chair, Michael Smith, said in a statement: “Paul has spent the last 12 months working closely with the current CEO, Tony Kinzett, and the Board, and has a thorough understanding of the business and shares our vision and goals for the future of FMT.”
Bendall has served as FMT general manager since last August following a nine-year stint with BNZ in the property financing division.
Meanwhile across the Tasman, two institutional fund managers with growing interests in NZ have named new senior sales executives.
Murray Brewer, who last August finished a 14-year stretch as head of distribution for T Rowe Price in Australia and NZ, has emerged at another US-headquartered marquee fund manager, Capital Group.
Brewer is now Capital head of Australia client group, reporting to Guy Henriques, who leads the Asia and European client division.
Capital, which has seen support ebb and flow in Australasia over the decades, established an Australian business in 2012, since launching seven locally domiciled funds. The flagship Australian version of the Capital Group New Perspective Fund tipped over A$1 billion under management last year, five years after launch.
In NZ, Clarity Funds Management (a subsidiary of Investment Services Group) badged the Capital New Perspective Fund as a portfolio investment entity in 2019, growing the product to almost $100 million to date. Heathcote Investment Partners represents Capital in the NZ market.
Founded in 1931, Capital now boasts over US$2 trillion under management globally.
Elsewhere last week, the Australian outpost of Dutch investment giant, Robeco, hired Julian Turner as institutional and wholesale client service manager in a Sydney-based position.
Turner held a similar role at Yarra Capital Management – and before that at Nikko Asset Management Australia. Yarra, part-owned by US private equity firm TA Associates (which also has a stake in Fisher Funds and Russell Investments), bought a majority stake in the Nikko Australia business this March.
The Rotterdam-headquartered Robeco has about A$280 billion in total funds under management, including about A$20 billion sourced from Australia and NZ. Over 90 per cent of Robeco money is invested according to environmental, social and governance (ESG) guidelines, the group said in a release.
“Robeco manages in excess of NZ$5 billion for institutional investors in New Zealand,” a spokesperson for the group said.
The firm has fixed income mandates with Mercer and the Accident Compensation Corporation (ACC) fund, as well as advising on a multi-factor equities portfolio for the NZ Superannuation Fund.