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Equity Trustees appoints two investment managers to fund
Equity Trustees (EQT) has elected boutique investment managers TechInvest and Spectrum Asset Management to manage a new credit investment strategy for the EQT TI Spectrum Credit Opportunities Fund.
The strategy is aimed at wholesale and platform investors and seeks to take advantage of a troubled Australian credit market, according to EQT.
While there has been some improvement in the credit market, the “source of the weakness” is expected to persist for some time, TechInvest chief executive Rick Steele said.
However, Steele believes that with forced sales, there is an opportunity for smaller, “more nimble” funds to pick up corporate and government securities at attractive prices.
“The absence of a strong secondary market and the loss of many of the market makers in these securities gives patient buyers the advantage,” Steele said.
AUTHOR
Mike Taylor
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