Industry Funds Management has appointed Angus McLeod as investment director, Australian equities replacing Tony Richard-Preston, and appointed three more investment personnel to its UK office.
McLeod will join IFM on October 1 from Colonial First State where he managed more than $3 billion in Australian equities indexed funds. Richard-Preston moved from Melbourne to Sydney to join IML in a client and researcher relationship focused role, that involves communicating with retail and institutional clients as well as researchers to ensure they are informed of IML’s investment holidngs, portfolio characteristics and views of investment markets. He will work between the invesmtent and marketing teams and reports to IML’s chief executive officer, Tim Hyett. Meanwhile Damian Moloney, chief executive of IFM, said the manager had also appointed three new investment managers in its UK office and had plans to beef that team to nine by the end of the financial year.
18/09/2007
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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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