The former head of Australian equities at UBS Global Asset Management, Paul Fiani, has revealed which of his former colleagues will be equity-owning partners at Integrity Investment Management, a boutique he promises will “;keep companies accountable”;.
Fiani will be managing director and head of equities at Integrity, Shawn Burns and Marcus Truman will be portfolio managers, while John Moran will be head of research. Integrity is waiting to be granted a retail Australian Financial Services Licence, and Fiani hopes to have a PDS for a 30-50 stock fund out to advisers by the end of August. A 20-30 stock fund will also be available, but only to institutional investors. The process run by Integrity will be similar to the valuation-based approach Fiani was known for at UBS GAM, with the exceptions that smaller FUM will allow Integrity to take more “;meaningful”; positions, and its independence will allow it to campaign harder for shareholder-friendly behaviour from companies. “;[At UBS GAM] we were well known for focusing on corporate governance and keeping companies accountable. We will be even better known for that going forward, because we won’t have all the conflicts to worry about,”; Fiani said. A chief operating officer for Integrity will shortly be announced, while the boutique is “;down to a shortlist”; of third-party providers for custody and fund accounting.
The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the 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
