15 October 2008
Bennelong Funds Management's newest investment team, Bennelong Australian Equity Partners, today launched its asset management capabilities to the market.
The boutique manager launched two wholesale funds: the Bennelong Australian Equities Fund and Bennelong Concentrated Australian Equities Fund.
Chief Executive Officer of Bennelong Funds Management, Jarrod Brown, said while there is no denying we're in the midst of a highly challenging economic climate, it's still a great time to launch.
"Nobody can deny our industry is facing testing times," said Jarrod Brown. "But we're in good stead to not only weather the storm, but continue to expand. And some great buying opportunities will emerge out of the chaos."
"It has certainly been a baptism of fire for the team", said Jarrod. "But while new to the Bennelong brand, the team has worked together for five years and has more than 65 years combined market experience."
Bennelong Australian Equity Partners (BAEP) is headed up by Paul Cuddy and Mark East, who left ING to join forces with Bennelong to create a boutique business with a difference.
"Bennelong was our partner of choice for a number of reasons. It's backed by a team of smart, passionate, driven and successful people who work in a strong corporate culture with a genuine philanthropic agenda," said Paul Cuddy, Chief Executive Officer of BAEP.
BAEP's methodology provides a huge degree of confidence for the Group.
"At the heart of our investment philosophy is the understanding that behavioural biases can lead to mispricing of securities - this is even more pertinent today than it was in the past. Our objective is to identify and invest in quality companies that exhibit mispriced earnings growth, which puts us in good stead for long-term growth," Paul said.
In addition, the co-head operating structure (East and Cuddy) delivers a robust portfolio 'co-pilot' proposition, which constantly challenges the consistency of the portfolio versus the process signals.
Whilst the Group is concentrating on navigating today's challenging economic environment, they're also conscious they can't afford to lose focus on the future - post-crisis.
"Our parent company, Bennelong Group, is diversified across industries and continents," said Jarrod. "And while nobody is insulated from the economic crisis, diversification is a definite advantage."
The Bennelong Group's mission is to be an iconic organisation that grows and self-perpetuates, providing careers and challenges for successive generations of management teams, and generating income for the philanthropic Foundation (which, in turn, focuses on providing positive and lasting change.)
"We're all in this for the long term," said Jarrod, "both in terms of the Group's backing and our teams' commitment." Each asset management team has equity ownership in their business, further cementing their commitment to superior investment outcomes.
Paul Cuddy agrees. "Bennelong has a long-term orientation and we've joined with confidence knowing what the future holds,"