ING Investment Management has found the first replacement member for its Australian equities team, several of which departed to run a boutique in June.
David Langford, a former Australian equities senior researcher on the Lehman Brothers sell-side, has started at ING IM as a senior equities analyst. Langford is ING IM’s first hire since the departure of Paul Cuddy and Mark East, who together had run the Australian equities portfolios since 2004. The pair left, along with analysts Michael Chun and Michael Malseed, to run an Australian equities boutique backed by incubator Bennelong Group. In the interim, ING IM’s chief investment officer of asset strategies and alternatives, James Wright, has covered the responsibilities of the Australian equities team with the assistance of two of the company’s senior portfolio managers from overseas, Guy Uding from Asia and Tycho van Wijk. It is understood more permanent replacements are to be announced soon.
19/08/2008
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Alternatives
The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.
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