THE US-based Marvin & Palmer group has consolidated its toehold in the Australian marketplace after confirming the first tranche of investors for its recently launched global equities trust.
The Marvin & Palmer Global Equity Trust was introduced to Australia in March, but investments from Deutsche Bank’s DirectChoice master trust and the Optimal Choice master trust of new funds management group Strategic Capital Management, mark the first flow of funds into the trust outside of seed funding from Marvin & Palmer itself.
Marvin & Palmer’s vice president of marketing and client services in Australia Lorraine Jones says the initial funding should be followed up by a second series of investments, with interest from both master trusts and superannuation funds expected to translate into investment dollars in coming months.
Marvin & Palmer, which has been managing money on behalf of Australian clients on a purely discreet basis since 1995, launched the Global Equity Trust specifically to open up the manager’s doors to master trusts and smaller superannuation funds.
