BNPP AM repatriates Australian equity fund after boutique shutdown

BNP Paribas Asset Management has announced a change in the delegation of the Parvest Australia Equity fund.

The strategy, whose management was hitherto delegated to Sydney-based boutique Arnhem Investment Management, will be run by BNP Paribas Asset Management Asia as from August 2018.

The change comes in the aftermath of Arnhem’s decision to wind down its Australian and global equity businesses. BNPP AM had owned 40% of the firm’s capital and had been responsible for the administration and distribution of the shop’s strategies since Arnhem’s establishment in 2010.

In July, Arnhem has become fully owned by the investment team, that includes among others managing partners George Clapham, Mark Nathan and Neil Boyd-Clark, all three having been former founding members of ABN Amro Asset Management’s Australian equity team in 2000.

The Parvest Australia Equity fund had AUD45.4m (€28.7m) of assets under management as at 30 July 2018.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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