The departure of Tony Waters and Chris Prunty from Ausbil’s microcap fund has seen portfolio management responsibility transition to John Grace and Josh Clark.
Ausbil Investment Management has announced the departure of portfolio managers Tony Waters and Chris Prunty after eight years with the fund.
According to a statement by the company, both men made the change for "lifestyle reasons" and will be taking up an opportunity to manage family money and private assets.
Portfolio management for the Ausbil microcap fund has transitioned to co-head of equities John Grace and microcap specialist analyst Josh Clark.
Mr Grace was been at Ausbil for 16 years and Josh Clark has been an analyst at Ausbil for five years and part of the microcap team for three years.
There will be no changes to the Ausbil microcap process as a result of the staff changes, the statement said.
"The bench strength of Ausbil, with its highly experienced team of six sector specialist equity analysts (and 18 investment personnel in total), remains unaltered and will continue to provide robust investment ideas for the microcap team," said Ausbil.
"The fund continues to be open to direct investors. We have commenced discussions with a shortlist of preferred candidates to recruit an additional professional."
Ausbil executive chairman and head of equities Paul Xiradis said, "On behalf of Ausbil, I would like to thank Tony and Chris for the contribution they have made to the firm over the years and I wish them every success in the future."