BennBridge was founded in November last year as part of Bennelong Funds Management. It provides operational and infrastructure support for local boutique funds management teams and distributes their funds across European and global markets.
Its first boutique partner, Tellworth, is an absolute return fund manager investing primarily in small and mid cap UK equities. The business is led by experienced investment managers Paul Marriage and John Warren, who formed Tellworth earlier this year after working together at Schroders.
As part of the partnership with Tellworth, BennBridge has been appointed as the investment manager of both the Schroders’ SARFCO UK Dynamic Absolute Return Fund and the Schroders’ SAS UK Dynamic Absolute Return Fund, managing £385 million (AUD$653 million) of assets at launch.
Tellworth has also expanded its existing team, with three new members of staff joining the business: Stephen Nash as head of trading; Seb Jory as head of data driven strategies; and James Gerlis as equity analyst, focusing on researching stock-specific investment opportunities.
BennBridge’s second partner, Pembroke, is an emerging markets (EM) equities manager founded by Sanjiv Bhatia, who most recently managed the EM portfolios within the Harvard Endowment from 2013 to 2017. It aims to generate alpha by identifying high conviction ideas derived from top-down themes and bottom-up fundamental analysis, with a low net exposure. Pembroke will be opening as a BennBridge boutique in the first quarter of 2018.
Greg Thomas, chief operating officer at BennBridge, said it is a testament to the strength of the BennBridge model that the business has launched its first boutiques with managers of such high calibre.
“Our strategic long-term partnerships are key to our business and we are confident that Paul, John and Sanjiv, and their teams, will continue building on their outstanding successes to date.
“Our business model is to provide a holistic range of services to our boutique partners, allowing them to focus on what they do best - managing clients’ assets.
“This model has proven a successful one in Australia, where Bennelong Funds Management has been operating for eleven years,” Greg said.