Allan Gray Australia’s funds management team is being restructured to accommodate the departure of co-deputy portfolio manager Dan Abeshouse and investment analyst Anna Lopatnikova.
Portfolio manager Simon Mawhinney, who currently manages 72.5 per cent of Allan Gray's Australia Equity A fund, will take over the responsibility for the 13.75 per cent 'sleeve' that was previously managed by Dan Abeshouse.
Mr Mawhinney will share responsibility for Mr Abeshouse's portfolio with co-deputy portfolio manager Suhas Nayak, who is responsible for the remaining 13.75 per cent of the fund.
A Morningstar analyst note on the departure of Mr Abeshouse and Ms Lopatnikova said "we believe there will not be material negative effects at Allan Gray".
Two new analysts have already been hired to fill the vacancies: James Lee (who will commence on 1 June 2017) and Gitendra Pradhananga (who will start on 3 July 2017).
"Lee has most recently been a professional staff member of the University of Sydney, and Pradhananga has been working as a site and project engineer for a construction company," said the Morningstar note.
Morningstar is maintaining its 'neutral' rating on Allan Grey Australia Equity.
EXCLUSIVE One of Australia’s leading financial advisers says there are too many local fund managers charging far too much for active mana...
AXA Investment Managers will launch its fourth private market impact investing strategy in the coming months in an effort to address the b...
Despite sharemarket declines, the Australian ETF industry finished August at a record high of $54.1 billion in funds under management, acco...