The IOOF-owned Perennial Investment Partners added to its retail distribution team yesterday with the appointment of Angelo Saltarelli as its representative in Victoria and Tasmania.
Meanwhile Perennial Value Management is on the look-out for a new junior analyst, advertising an entry-level position in John Murray’s team nationally last week. Saltarelli joins the Perennial retail team headed by former Credit Suisse Asset Management head of sales, Brian Thomas, who was hired last November to head the fund manager’s direct entry into the retail market. Thomas said Saltarelli would complete the Perennial sales team and would enable the group “to provide high level service to financial planners across Australia”. In December IOOF bought out the remaining 21 per cent of Perennial for over $68 million, which was partly funded by a $22.5 million loan.
13/03/2007
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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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