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Wheelhouse Partners finalises exit from Bennelong

Wheelhouse Partners has completed its transition to a new independent structure following agreed terms for its executives to acquire Bennelong Funds Management’s stake in its business.

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Under its independent ownership structure, Wheelhouse will continue to focus on delivering purpose-built investment solutions that target income and protection for Australian retail and wholesale investors, including its flagship Global Equity Income Fund.

From 10 August 2020, Perpetual Trustees has taken over from Bennelong as Responsible Entity for the fund.

Alastair MacLeod, Managing Director of Wheelhouse, said in a statement, “While volatile market conditions have played to our strengths, we remain steadfastly committed to the core objectives on which Wheelhouse is founded; to generate a reliable, consistent income stream whilst preserving investor capital from market downturns

“We’re excited to be in a position to invest in our business and create solutions for investors to help navigate this challenging environment.”

Bennelong CEO, Craig Bingham, said, “We’re proud to have partnered with Wheelhouse, and look forward to seeing them continue to flourish. We wish the team well as they enter their next phase of growth and development.

“At Bennelong, we continue to refine and strengthen our global capabilities, managing the business to deliver the best possible outcomes for our clients.”

For more information on Wheelhouse, visit wheelhouse-partners.com.

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