Montgomery Investment Management, the Australian equities boutique set up by funds manager Roger Montgomery and backed by Magellan Financial Group, has hired former BlackRock head of retail Scott Phillips as head of distribution.
Phillips, who left BlackRock in June, will work closely with chief executive and portfolio manager, David Buckland.
Montgomery Investment Management was established in 2010 and has approximately $500 million under management.
The Montgomery Fund was launched in August 2013. It returned 41.7 per cent after fees in the 14 months to October 31, 2013, outperforming the S&P/ASX 300 Index by almost 11 per cent.
Buckland said the fund aimed to beat the benchmark by a minimum of 5 per cent per annum, over the medium to long term.
“The market won’t be able to sustainably deliver returns at that level however we believe we will be able to continue outperforming the benchmark by at least 5 per cent per annum,” he said.
The Montgomery Fund is currently available on the BT Wrap, netwealth, PowerWrap and OneVue.
Leave a Comment
You must be logged in to post a comment.