Fixed income specialist Ardea Investment Management has welcomed its co-founder to be its new chief executive officer.
Stephen Clout was appointed to the position by the board after heading portfolio implementation and client relationships for the management firm.
Mr Cloud will continue to have oversight of portfolio implementation and will be supported by chief operating officer Tracey Kellett who started in February.
Chairman and chief investment officer of Ardea Ben Alexander said the board was confident that Mr Clout would provide the firm with operational and strategic leadership moving forward.
“Stephen knows our business well, having helped found it more than 10 years ago. He also has deep, extensive relationships with our clients and is already very well-known and respected by the team,” he said.
Mr Alexander said this appointment would enable himself and the rest of the investment team to maintain their full focus on investing, without the distractions of business management.
“A key reason for Ardea’s success has been the ability of our investment team to put all our energy and expertise into our differentiated, relative-value approach to fixed-income investing.
“This has enabled us to deliver reliable risk-adjusted returns that are independent of market direction and have minimal correlation to broader fixed income and equity markets,” he said.
Ardea was founded in 2008 and currently manages over $11 billion in funds under management thanks to its strategies, including its Real Outcome strategy and the ASX listed ActiveX Ardea Real Outcome Bond Fund which was launched with Fidante Partners.
“We are grateful for the strong support we’ve received from our clients, as well as asset consultants, and are now evolving our business structure so that we can both continue to provide a high level of service to existing clients and manage growth in a considered and measured way well into the future,” he said.
Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
You can email him on: [email protected]