Grant Samuel Funds Management has tripled Australian-sourced assets this year, following the firm’s appointment by State Super Financial Services on behalf of its global equities manager, Epoch Investment Partners.
State Super’s retirement services arm has invested $270 million into Epoch’s “global equity shareholder yield” strategy, distributed in Australia by Grant Samuel. The mandate takes Epoch’s locally sourced funds to about $900 million, since its launch with Grant Samuel to this market in October 2007, of which about $60 million is from retail investors.
The multi-affiliate manager’s Australian equities manager, Tribeca Investment Partners, in which it also has a significant shareholding, has also had a big year for funds flow, lifting its assets under management from less than $400 million early this to about $900 million last month.
Andrew McKinnon, Grant Samuel’s chief executive for the funds management business, said the company had lifted funds under management from about $600 million to about $1.8 billion in the past year.
McKinnon said that Grant Samuel had always indicated that it wanted to have a global equity and an Australian equity partner, as well as an alternatives offering for the Australian market, which was still being sought.
Epoch is a value-orientated manager which concentrates on the free cashflow of underlying companies, particularly looking for those which could manage their capital more efficiently, such as through share buybacks.
Notwithstanding the global crisis, the firm was able to identify about 70 companies which had increased their dividends this year.
Epoch also offers a global concentrated portfolio and a global small-cap strategy in Australia.