The joint portfolio manager of Hayberry Investments, a hedge fund run by former BT Australian equities head Rohan Hedley, has exited the boutique.

After jointly managing the Australian equities hedge fund with Hedley for five years, Victor Gomes left the boutique last month, for a “break away” from the industry, Hedley said. “He hasn’t gone to a competitor.” Gomes was replaced a fortnight ago by Maria Hatziplis, who previously ran a private valuation consulting business after covering large-cap industrial stocks as a senior analyst with AMP. The boutique’s institutional clients had responded favourably to the appointment, and Hatziplis had taken to the role in a smooth transition, Hedley said. Gomes worked with Hedley at BT before joining Platinum Asset Management as a portfolio manager in October 2001. He joined Hayberry in January 2003. Meanwhile, the manager had completed winding up a US dollar-denominated version of its Australian equity fund. The decision to close the fund was made last year as rising interest rates in Australia made a hedge over the vehicle too expensive to keep. In total, $25 million was returned to investors.