MEDIA RELEASE Bennelong Funds Management’s UK subsidiary BennBridge is launching a third boutique asset management business, BambuBlack, through a strategic partnership with UK financial and professional services firm Smith & Williamson.
BambuBlack will offer two Asian equities funds focusing on growth and income. Both funds are currently offered by Smith & Williamson and managed by Ms Jane Andrews.
Under the strategic partnership, BennBridge will be appointed investment manager and Ms Andrews will be the portfolio manager of the funds at BambuBlack.
BennBridge, Smith & Williamson, and Ms Andrews will each have an equity stake in BambuBlack.
Craig Bingham, CEO of Bennelong, said: “Jane has a successful track record over more than two decades, delivering strong returns and exemplary levels of service to clients, and we are delighted to welcome her to BennBridge.
“Our global focus is on partnering with high-calibre investment talent to bring quality funds to market. BennBridge continues to seek opportunities to build high performance focused investment teams, while increasing our global distribution footprint.
“Our intention is to bring Australian versions of the BambuBlack funds to the local market in the second half of 2019.”
Together, Bennelong and BennBridge currently partner with 10 boutique asset managers in Australia and the UK. The Asian equities capability adds to the growing list of boutiques across sectors including global infrastructure, global real estate, Australian equities and emerging markets equities.
Bennelong also recently announced its expansion into the United States via its new subsidiary, BennBridge US.