News

Bennelong goes global

4 March 2009

Bennelong Funds Management (Bennelong) today officially launched its global equities capability through a partnership with US-based equities manager, Security Global Investors (SGI).

Known as Bennelong SGI, the team will manage a global equities (long only) fund initially, with plans to roll-out additional funds over coming months.

Jarrod Brown, Bennelong's Chief Executive Officer (CEO), said the group embarked on a deep and broad search for a global equities manager many months ago and discovered the perfect stable mate in SGI.

"From our earliest meetings, it was clear SGI were going to be a great cultural fit. Not only did we discover a credible, boutique investment management firm with a tremendous amount of experience and insight, but also a team that was equally enthusiastic about and committed to the opportunities our partnership would create," Jarrod said.

SGI's global team is a 13-person San Francisco-based group led by senior investment professionals John Boich, David Whittall, Scott Klimo and Mark Kress. They each bring to the firm a solid record of success in global research and portfolio management, employing global investing methodologies and advising institutional investors for well over a decade.

"Even in the challenging market conditions of 2009, hundreds of companies - from around the world and across many diverse sectors - have outperformed their markets and experienced positive share price returns," said SGI Portfolio Manager David Whittall. "A global approach affords the greatest breadth for identifying such stocks and we have developed a sustainable and repeatable process that allows us to quickly identify investment opportunities when and where they arise."

CEO of SGI, Rich Goldman, said the global team was excited about delivering their strategies to the Australian market and were genuinely enthusiastic about what both SGI and Bennelong could respectively bring to the partnership.

"We completed a thorough fact finding process including detailed discussions with the Bennelong team, which allowed us to gain a greater understanding of the Australian market and a high degree of confidence in and respect for Bennelong's people," said Rich.

"We're very comfortable with the logic behind their growth strategy. Our business models are aligned and their boutique structure and culture provide an excellent fit with SGI's. Bennelong's underlying philanthropic agenda is of course a key component of the appeal of this opportunity," said Rich.

Bennelong has made an exclusive commitment to SGI within the global equities asset class, building on its existing suite of capabilities and bringing to life its strategy to grow a suite of non-correlated, complementary asset management teams over the long term.

"Obviously we're keen to continue growing in-house asset management capabilities but we made a decision that it would be virtually impossible to replicate locally the caliber of global investment capability we have discovered in SGI," said Jarrod.