Retrenched from Bernstein Value Equities after a consolidation of listed property oversight into the shares team, portfolio manager Stuart Keighran has benefited from the opposite happening at MLC.
Keighran started yesterday as MLC’s first-ever portfolio manager for property and unlisted assets, with responsibility for selecting managers across all of MLC’s property and unlisted asset investments.
Keighran had spent nine years with Alliance Bernstein, including the last five as the chief investment officer of Australian listed property for Bernstein Value Equities, doubling as Asia-Pacific regional research co-ordinator for the manager’s real estate equities strategies.
However he departed two months ago, according to Alliance Bernstein Australia chief executive officer Michael Bargholz, after it was decided to dissolve the separate listed property function into the Australian equities team of Stuart Rae. Bargholz added that Keighran’s regional responsibilities had been taken up by a newly-appointed researcher in Asia.
However MLC has taken the opposite path to Alliance Bernstein, deciding that property and unlisted assets deserved to be carved out of their home under the global equities umbrella. Keighran becomes the sixth MLC portfolio manager, alongside those for domestic equities, global equities, fixed income, private equity and alternatives.