With a single mandate, Australian equities boutique Alleron Investment Management has more than doubled its funds under management (FUM).

Alleron began investing the $700 million Australian equities mandate, which increased the boutique’s FUM to $1.2 billion, two weeks ago. As a consequence of issuing the mandate, the client is in the process of restructuring its Australian equities allocation, I&T News understands. Alleron, a growth manager, runs a concentrated portfolio of large-cap stocks. It is one of the managers partnered with St George-owned multi-boutique firm Advance Asset Management, and is owned by staff.