Equity Trustees has been appointed by Melbourne-based Cooper Investors as responsible entity for its two global funds.
The decision to appoint Equity Trustees as responsible entity (RE) for the CI Global Equities Fund and the CI Global Equities Fund (unhedged), will give retail investors access to the two funds, Cooper Investors said.
“There has been strong interest in our global funds among high-net-worth investors and their financial advisers, and in response we have taken steps to make it easier for them to invest in these two products,” said Cooper Investors managing director Peter Cooper.
“In taking this initiative, we were conscious that, as a specialist global equities fund manager, we must maintain our focus on investing. We believe the appointment of Equity Trustees as the RE is the best way to facilitate this investment offering to a wider audience at this time.”
Equity Trustees executive general manager of corporate trustee services Harvey Kalman said the move provides a “clear delineation between the role of fund manager and fiduciary responsibilities”, and would give foreign investors a framework familiar to foreign jurisdictions.
“Appointing an independent RE demonstrates to potential investors that the manager is willing to invest in their business,” he said.
“While fund managers focus on investment management, the role of the RE is to take care of protecting investor interests and compliance.”
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