GLOBAL - Northern Trust Global Advisors, Northern Trust's London-based manager-of-managers business, has dumped Credit Suisse as the manager of a Japanese equities mandate and jointly hired Australia-based Perennial Investment Partners and Japanese asset manager SPARX.
SPARX (Strategic Portfolio Analysis Research experts), an independent investment firm based in Tokyo, specialises in bottom-up fundamental stock picking of Japanese companies while Perennial manages stand-alone portfolios in global, Asia ex Japan and Japanese equities.
Tony Earnshaw, managing director of NTGI’s European manager-of-managers business, said: “Perennial’s Japanese equities capability stood out during our investment manager search, hence our decision to appoint Perennial to manage a mandate. In the past, we have identified emerging, performance-oriented investment managers and we continue to benefit from these now long standing and rewarding relationships.”
Perennial’s managing director, Anthony Patterson, said the appointment was endorsement of Australia as a growing international equity managers’ hub.
“[This mandate] is further recognition that our entire global equities team has worked hard over the last five years and our investors have been rewarded with strong relative outperformance. This is particularly the case for our Japanese equities team, which has delivered superior returns on an ongoing basis.”
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