Bennelong Funds Management (Bennelong) has identified a number of exciting investment managers in the UK and, after a considerable review, has decided to open an office in London, establishing a presence in the UK market.
“Clients appear to be searching for opportunities offshore,” said Bennelong CEO Craig Bingham, “and we believe the UK offers some very interesting prospects.”
Mr Bingham said Bennelong intends to appoint a range of executives in the UK, including a chief operating officer, a compliance manager and head of sales for Europe and the UK.
“Our approach will be to establish a stand-alone funds management business in the UK. While the overall strategy of partnering with specialist asset management businesses will be the same as it is in Australia, the asset classes and business strategy may vary.
“The UK and European markets have a number of inherent differences to Australia; what is successful here won’t necessarily be the best strategy in another part of the world.”
Mr Bingham said Bennelong was encouraged to see such a high level of interest in its approach from the UK investment industry.
“We’ve spoken with more than 80 teams so far and hope to establish two or three partnerships in the first half of 2017,” he said.
“We hope our expansion into the market will help boost the ability of boutique fund managers to overcome the regulatory, legal and administrative hurdles that prevent many from getting a foot in the door. ”
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Bennelong Funds Management is a thriving, boutique fund manager nurturing a growing suite of asset management teams. Bennelong’s boutique partners collectively manage approximately $6.5 billion in funds under management. It is a wholly owned subsidiary of the Bennelong Group, a privately owned funds management and investment business. Visit bennfundsmanagement.com.au