One of the Credit Suisse Asset Management Australian small caps team displaced by Aberdeen’s takeover of CSAM’s traditional businesses has resurfaced at an established small cap boutique.
Steven Ng started yesterday at Paradice Investment Management, just over two years after he and Issam Eid were poached from ING Investment Management to join the equities team Stephen Giubin was then building at CSAM.
Ng is the first of that team to resurface after Aberdeen’s purchase of CSAM’s traditional businesses became official on May 1. David Paradice was unavailable for comment on Ng’s role last night.
With $3.1 billion under management across its large cap, mid cap and flagship small cap funds, Paradice’s firm has struggled to add as much value in the ex-100 universe as it did in its early years. Over the five years to March 31 2009, Paradice’s Australian Equities Small Cap Fund has returned a gross 3.44 per cent, which if it entered the Mercer surveys, would place it about seventeenth of the 26 managers with a track record that long. The S&P/ASX Small Ordinaries has returned 1.1 per cent over the five years.
The fund has beaten benchmark by 8.29 per cent since its 2001 inception.