Mint Asset Management portfolio manager, Michael Kenealy, is to leave about 18 months after joining the $2 billion plus boutique.
Kenealy will assume a new equities portfolio management role at ethical investment firm, Pathfinder, as of July this year.
He took on a senior analyst position at Mint in November 2021, promoted to portfolio manager for the group’s Australasian Property Fund the following August to replace incumbent, Anthony Halls.
Halls resigned as chief investment officer at the time for family reasons, ending a nine-year stint with the business.
Prior to Mint, Kenealy spent eight years at Auckland-based rival, Salt Funds, rising from analyst to co-portfolio manager on the firm’s long-short fund during the period.
He also worked in Peru for a Belgian philanthropic fund, helping with a bespoke microfinance investment, after launching his finance career at Goldman Sachs JBWere NZ in 2008.
It is understood Mint portfolio managers, David Fyfe and John Middleton, will take over duties for the Australasian property equities portfolio, while the firm recruits another investment analyst.
As well as CIO, Paul Brownsey, the Pathfinder investment team includes portfolio manager, Hamesh Sharma, and analyst, Holly Armstrong.
“I’m very much looking forward to Michael joining us shortly,” Brownsey said. “He’s coming from Mint, a fellow quality boutique fund manager, and will excel as part of our team.”
Pathfinder, which has more than $500 million under management, is associated with the global Alvarium group. However, the Alvarium NZ business (where Pathfinder sits) restructured late last year to remain formally separate from the global entity, which listed on the Nasdaq via a special purpose acquisition company – or SPAC – merger with US wealth management firm, Tiedemann Investment Advisors.
Elsewhere, the Forsyth Barr-owned funds operation, Octagon Asset Management, inked a deal with the Flint investment platform last week in a bid to broaden its distribution footprint in the retail market.
The wealth management business renamed Forsyth Barr fund division as Octagon late in 2021, hoping to win external institutional and retail money.
Under the agreement with Flint, Octagon will list its entire suite of eight products on the platform that has a $50 minimum investment.
Octagon business development manager, Matt Hardwick, said in a release: “Partnering with Flint and making our funds accessible to meet growing investor demand is an important step for us as we grow the Octagon brand.”
Flint is a joint venture between Trustees Executors, Harbour Asset Management and Australian firm, ResearchIP.
Last month Flint chief, Angela Vale, resigned less than a year into the job to take up the vacant top position at established platform business, FNZ.