Aubrey handed the reins of GVI funds

Treasury Group Limited (TRG) and Global Value Investors (GVI) have issued a joint announcement advising that Aubrey Capital Management will take over management of GVI’s funds.

Aubrey is a boutique investment manager that specialises in global equity management. While headquartered in Edinburgh, Aubrey holds an office in Melbourne and has been a member of TRG’s boutique portfolio since 2009.

GVI chairman Reub Hayes said the decision to change the investment manager was taken after reviewing the investment performance of the business.

“The overriding factor in reaching this decision was to generate the best outcome for our current and future investors in the funds,” Hayes said.

Hayes said GVI would continue to be the licensed entity and investment manager, although Aubrey will be sub-advisor to the funds. TRG will move to a controlling equity ownership position and will continue to be the responsible entity of the funds.

Aubrey will structure the portfolio without reference to peers or the benchmark, instead identifying proven thematic growth drivers, coupled with an assessment of a company’s cashflow characteristics.

The transition will commence immediately and it is expected that the overall change to the portfolio composition will take place over the next two weeks.

“Members of both Aubrey and GVI are working together to facilitate a seamless transition and ensure that the interests of investors are managed as a priority. All investors have been sent an update and will receive further information over the coming weeks,” Hayes said.