Another Perennial founder, former chief executive and chief investment officer, Ian Macoun, is also starting up a new venture, which will mirror the Perennial model.
Macoun is partnering with a well-known funds manager (to be announced today) who will provide the group with seed capital. Macoun expected the new group of boutiques to cover different investment styles and asset classes with the first two boutiques offering Australian equity capabilities. “I’m a passionate believer in this model,” Macoun said. Macoun left Perennial two and a half years ago and is understood to have made a substantial amount through the sale of his share in the group. Since then he has been looking for a backer to recreate the success of the Perennial model.
The $34 billion Brighter Super is set to shift around $10 billion of assets from passive to active management. Chief investment officer Mark Rider says the move is possible because of scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
