POWERED BY MOMENTUM MEDIA
Private Portfolio Managers targets IMA offering with new appointment
Sydney-based Private Portfolio Managers (PPM) has added to its portfolio management team with the appointment of Ian Hardy, who will specialise in bespoke individually managed accounts (IMAs).
Hardy makes the move from Centric Portfolio Managers, the IMA division of Centric Wealth, where he held the role of chief investment officer and oversaw $300 million in funds under management.
PPM director Hugh MacNally said Hardy's investment philosophy was closely aligned with PPM's, and involved adopting a long-term approach and selecting a small number of exceptional companies.
"This long-term approach has resulted in a cumulative outperformance of the benchmarks by over 178 per cent after fees since inception for PPM's growth managed accounts," MacNally said.
Hardy also worked at Halliday Financial group before it was acquired by Centric Wealth. He developed the IMA offering of both companies.
"Combined with our 15-year track record in managing IMAs, Ian's experience will ensure PPM remains a leader in managed accounts and servicing the investment management needs of successful individuals, families and charities," MacNally said.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
