21 February 2006
Macquarie Adviser Services today launched the Concord Australian Equity Fund, the first Australian equity fund available in the Macquarie Professional Series.
The Concord Australian Equity Fund is being offered in conjunction with Concord Capital, a growth-oriented boutique Australian equities manager, which is 100 per cent owned by its employees.
The Head of Distribution for the Macquarie Professional Series, Peter Shepherd, said the inclusion of Concord in the Macquarie Professional Series complemented the other excellent international funds that had already experienced a great deal of success.
Since its launch in March 2005 the Macquarie Professional Series has attracted in excess of $600 million in funds with more than $300 million in the Morgan Stanley Global Franchise Fund, $250 million in the Walter Scott Global Equity Fund and $60 million market cap in the recently listed Winton Global Opportunities Trust.
Mr Shepherd said the success of the Macquarie Professional Series was due to the quality of the fund manager partners, their strong long-term performance track records and their ability to distinguish themselves in a crowded investment market.
“The Macquarie Professional Series was developed after consultation with financial advisers who identified the need for good quality investment managers with strong conviction and whose portfolios were not necessarily constrained by benchmarks,” Mr Shepherd said.
“The latest inclusion in the series, Concord Capital, has an investment philosophy that is based on the belief that a committed team of experienced people with a research driven process aimed at identifying superior businesses should result in above market performance.”
“Concord’s investment strategy is predominantly a growth-oriented, return seeking strategy that results in a diversified yet concentrated portfolio of Australian stocks.
“They are “pure” stockpickers. This means they focus on selecting quality businesses, which operate in industries which have a good competitive outlook.
“This concentrated stockpicking style, with an emphasis on growth, and the track-record of Concord Capital’s investment strategy meant they are a welcome inclusion in the Macquarie Professional Series.”
Chairman of Concord Capital, Richard Douglas, said Concord Capital was delighted to be joining the Macquarie Professional Series and making Concord Capital’s investment strategy available to Australian retail investors for the first time on a stand-alone basis.
“We agreed to partner with Macquarie because of its outstanding reputation, its knowledge of the retail market and the strength and depth of its distribution team,” Mr Douglas said.
The distribution of Concord Capital’s investment strategy to the adviser market is exclusive to Macquarie Adviser Services. Concord Capital has not previously been offered to retail investors but has developed a very strong reputation in the institutional investment market since its inception in 2000.
Mr Shepherd said Concord had a firm commitment to limiting its funds under management in order to maintain performance objectives, and that the Concord Australian Equity Fund has been allocated a set percentage of Concord’s investment capacity (on the basis of no less than $750 million).
Concord Capital’s investment process received an “A” rating from van Eyk following their last review of Australian equity managers. van Eyk has also elected to include the fund in their the Blueprint Australian equity offering.
He said the minimum investment was $50,000, or less if invested via wrap or master trust platforms.
For further information, please telephone:
Head Professional Series Distribution
Tel: (612) 8232 5357
Head of PR & Communication
Macquarie Financial Services Group
Macquarie Funds Management Group
Tel: (612) 8232 3241
Mobile: (61) 417 260 309