In response to recent growth, leading Australian absolute return investment manager, Watermark Funds Management (Watermark), has bolstered its global capabilities with the appointment of Simon Felton.
Mr Felton, previously Senior Investment Analyst at Platinum Asset Management for 12 years on its flagship International Fund, has been appointed to the position of Portfolio Manager. He will work across all of Watermark’s funds, bringing a specialisation in capital goods, transport and infrastructure.
Prior to Platinum, Mr Felton worked as a lawyer at Blake Dawson Waldron (now Ashurst) specialising in mergers and acquisitions. His appointment brings the Watermark investment team to seven people.
Led by Founder and Chief Investment Officer Justin Braitling, Watermark has established a successful long-term track record of strong performance through market cycles. Commenting on the appointment, Mr Braitling said: “Simon is a great addition to our team and we are happy to attract someone of his calibre to the business.”
Additionally, Watermark has appointed a new Business Development Manager in response to growing demand from financial advisers and self-directed investors looking for alternative investment strategies. Rani Singh will play a key role in supporting this growing adviser network and in increasing Watermark’s profile with retail investors. Ms Singh has held previous roles at Ellerston Capital and Macquarie.
“As global share market volatility continues; we are experiencing a growing demand for absolute return products. In a sustained low interest rate environment, investors are looking for alternatives to traditional long only funds,” Mr Braitling added.
Watermark manages $600 million in funds under management across its three funds – the flagship Australian Leaders Fund Limited (ASX: ALF), the Watermark Market Neutral Fund Limited (ASX: WMK) and the Watermark Market Neutral Trust.
ALF has been amongst the best performing LIC’s in the asset class since listing in February 2004, returning 13.6% per annum since inception (net of fees), against benchmark of All Ords Accumulation Index which returned 8.7% per annum over the same period.
The Watermark Market Neutral Trust has delivered returns of 14.6% per annum since its inception in August 2012. WMK has also consistently and strongly outperformed its benchmark since listing, returning 7.8% per annum since inception in July 2013, against the RBA Cash Rate of 2.3% over the same period. The Watermark Market Neutral Trust and WMK use a market neutral lo strategy to reduce risk and volatility of their portfolios.
