Schroder Investment Management head of distribution, Murray Brewer, will leave in a couple of months to spearhead US manager T. Rowe Price’s growth ambitions in Australia.
Reporting to Brewer will be Louise Bradshaw, who is returning to Australia to take an assistant vice president role with T. Rowe Price, after directing institutional sales at First State Investments in the UK. Both Brewer and Bradshaw have strong retail backgrounds, and represent a serious effort by the Baltimore-based manager to crack the Australian retail investment market. Ed Brooks, who came to Australia to represent T.Rowe Price after it won a $1.7 billion global equities mandate from QIC (since rescinded), is returning to his home town of Seattle. Meanwhile, the future of Tony Tuohy’s third-party marketing relationship with the manager, concentrated on the wholesale market, is uncertain. Brooks was holidaying at presstime and unavailable for comment.
09/05/2006
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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