Navigator today announced a partnership with boutique funds manager Greencape Capital to provide two funds exclusively through the Navigator administration platform for a 12 month period.
Navigator today announced a partnership with boutique funds manager Greencape Capital to provide two funds exclusively through the Navigator administration platform for a 12 month period.
The Greencape funds, Wholesale Broadcap Fund and Wholesale High Conviction Fund, provide investors with access to an Australian Equities manager with a best ideas mentality.
Aviva Research Manager Stuart Fechner said Navigator was delighted to offer clients exclusive access to these Greencape funds at such an early stage, in recognition of the strong and sustained impact boutique managers have made on the Australian investment scene.
“Greencape’s investment team is a cohesive unit having worked together for a considerable period at Merrill Lynch Investment Managers where they enjoyed good market support while managing similar funds. One of the unique aspects of the Greencape proposition is their relationship with Challenger to whom the majority of non-investment activities are outsourced, allowing them to focus on what they do best – investment management,” said Stuart.
Matthew Ryland and David Pace are recognised names in funds management and are well credentialed to manage these funds, Matthew having run the Merrill Lynch Growth Fund and David the Merrill Lynch High Conviction Fund.
Greencape Capital Director Matthew Ryland said the platform market remains as competitive as ever and a detailed review of this market was undertaken before reaching a decision to proceed with Navigator. Access to a high quality and diversified financial adviser network was a significant factor.
Navigator has also added a further 17 new funds available through the Personal Investment Plan. They are:
- Advance Concentrated Australian Share Fund – Wholesale Units
- Australian Unity Wholesale Mortgage Income Trust
- AUI-Platypus Australian Equities Trust
- AMP Capital Investors Core Property Fund
- Deutsche Global Equity Thematic Fund
- Perpetual’s Wholesale Australian Equity Fund
- Platinum International Brands Fund
- Platinum Japan Fund
- Platinum European Fund
- Platinum International Technology Fund
- Select Alternatives Portfolio
- Vanguard International Fixed Interest Index Fund (Hedged)
The additions include the re-opening of five previously offered funds which had been closed by the respective fund managers. They are:
- Challenger Smaller Companies Fund*
- Goldman Sachs JBWere Emerging Leaders Wholesale Fund*
- Portfolio Partners Emerging Shares Trust*
- ING Emerging Companies Trust*
- PM Capital Australian Opportunities Fund*
The funds are available for investment from 12 October 2006.
Stuart said there is a boutique flavour across the added funds, which is due to a good level of demand and use which has occurred across the market in relation to boutique fund managers.
“This is not simply because of the ‘boutique’ label as there is no single or simple definition of what represents a boutique manager or fund,” said Stuart. “The strong interest and use of boutique manager funds is because they commonly offer investment strategies that are either, quite focussed in the type or range of underlying assets in which they can invest, or they are managed in a way where little attention is paid to the structure of an index and a related level of tracking error that must be adhered to,” said Stuart.
“The re-opening of a range of small company funds is also an interesting topic after a wave of fund closures around three years ago,” said Stuart.
“When these funds were initially closed by fund managers due to capacity issues it was somewhat of an administrative thorn in the side for many financial advisers, investors and administration platforms alike. The funds are now being re-opened on the back of increased market depth and liquidity, reflective of a robust and growing Australian equity market,” said Stuart.
The newly re-branded Aviva Research team is charged with managing the Navigator fund list, and ensuring it includes a varied range of quality fund managers, fund structures and investment strategies.
“It’s important to provide a range of choice across different managers, fund structures and investment strategies to ensure flexibility for advisers and their clients in tailoring a portfolio to specific needs and objectives,” said Stuart.
“Many advisers structure portfolios using a ‘core-satellite approach’, where benchmark aware funds in traditional asset classes account for the majority of the overall portfolio, and where a smaller allocation, of perhaps around 10 percent, of the client’s portfolio is allocated to funds such as those with either a regional, country, industry or capitalisation bias,” added Stuart.
The process of adding new funds incorporates a manager and fund due diligence questionnaire, but also includes feedback from financial advisers.
“We’ve experienced a wide interest in different funds in recent months, especially in regards to funds with quite specific investment strategies,” said Stuart..
Navigator investment options include more than 200 managed funds and up to 500 direct shares.
-ends-
Stuart Fechner is available for interview on 0407 839 080.
For further information, please contact:
Simon Morgan, Group General Manager, Public Affairs
(03) 9829 8892
0407 966 632
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Aviva Australia is part of Aviva plc, the world's fifth largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- Aviva is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$86.8 billion, and more than A$786.2 billion of assets under management (as at 7 July 2006). The group has approximately 58,000 employees and 35 million customers worldwide.
- The information in this document reflects Navigator Australia Limited's ('Navigator') ABN 45 006 302 987 understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. A PDS is available from NULIS or your financial adviser. Applications to invest in investment product(s) through the investor directed portfolio service ("IDPS"), operated by Navigator, must be made by completing the application form attached to the applicable IDPS Guide Offer Document and Investment Allocation Authority. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.