John Schaffer, one of the founding directors of Intech Investment Consulting, has returned to the funds management industry as a third-party marketer for a US-based global equities manager.
Schaffer has formed Catallyst Advisors, based in Sydney, to provide third-party marketing services to international managers looking to offer themselves to Australian investors.
His first manager is Connecticut-based Johnston Asset Management, an international equities manager running concentrated portfolios with a 15-year track record.
Schaffer retired from executive duties at Intech in 1998 moving with his family to live in Ireland. After returning to Australia in 2003 he sold down his shares in the firm, which is now part of the Morningstar group.
Schaffer said he had been thinking about returning to the industry for about six months before he formed Catallyst late last year. He then commenced an extensive search for an appropriate manager to represent as an initial and cornerstone client.
“I think Johnston will prove an interesting proposition for many Australian super funds,” he said. “Performance has been exceptional over a long period and the concentrated, index agnostic style would suit many funds. Johnston is committed to remaining 100 per cent staff-owned, which was amongst the driving attractions for me and which I believe is an increasingly attractive business model given ownership changes among many global funds managers in the past couple of years.”
Johnston has had no Australian representation previously.