MFS Financial Services has appointed Richard Keary, the well-known alternatives manager, to the new position of chief investment officer of its MFS Alternative Investments subsidiary.
Keary, the former head of alternatives at BT Financial, was a former currency manager and funds management marketer before establishing what has become the $1.5 billion hedge funds of funds business at BT. MFS, which started life as a Gold Coast property development company, has strategic stakes in several alternatives managers, including HFA, Vantage Asset Management and, most recently, Fortitude Capital. Richard Lourey, MFS Alternative Investments chief executive, said yesterday that Keary’s appointment was indicative of the firm’s commitment to grow its funds under management, product suite and interests in Australian hedge funds. Keary will be based in Sydney.
17/04/2007
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Investments
Australia’s sovereign wealth fund has added an active equity strategy from a local boutique manager to its emerging markets allocation and dropped one of its existing providers after signaling it had identified "inefficiencies" in the space.
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