MLC adds high conviction manager Northward Capital to its Australian shares strategy.
MLC has added boutique investment manager Northward Capital to its Australian shares strategy in the MLC Horizon portfolios, MLC Long Term Absolute Return Portfolio and MLC Australian Share Fund.
As a result, MLC has changed the weightings of the existing investment managers in the strategy so it is not overly reliant on any one individual manager's performance.
The high conviction portfolio Northward Capital is managing for MLC is different to the other investment managers in the strategy.
Northward Capital is focused on identifying mis-priced companies with sustainable earnings growth, accelerating cash flows and a rising return on equity.
The boutique manager will hold around 30-50 stocks in the portfolio for MLC.
The availability of Australian shares investment managers who have capacity and can run a high conviction, tax aware portfolio, are becoming increasingly limited, MLC Investment Management general manager Michael Clancy said.
"We believe Northward Capital is an exceptional investment manager that will outperform the market return over the long term," he said.
Northward Capital was established in 2007 as a boutique Australian shares manager.
National Australia Bank's direct investment management business, nabInvest has a 51 per cent stake in Northward with the investment team holding the remaining 49 per cent.
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