Diversified fund manager Pengana Capital has expanded its global resources team with the appointment of Ken West as a resources manager.
He will join the firm's Melbourne-based managers Ric Ronge and Tim Schroeders in an exclusive consulting capacity, bringing the aggregate experience of the team to over 75 years.
West brings to his new role more than 20 years of investment experience, principally in resources. He has 22 years of industry experience, having worked in Australia and overseas with BHP Billiton and Rio Tinto.
"Ken's knowledge and depth of experience adds to our already successful process and skill base. His expertise, ranging from project analysis to resource asset acquisition and divestment, complements the work we are already undertaking and should further enrich our results," Pengana Global Resources Fund manager Ric Ronge said.
"The fact that to the end of September we have delivered a net annualised return of 15.9 per cent per annum from the fund's inception in March 2007 is testimony to the success of the strategy and the ongoing global resources story.
"We continue to anticipate strong performance for this sector, driven largely by strong demand from developing regions such as China and India."
Pengana chief executive Russell Pillemer said the fund's allocation to global resources in a risk-constrained strategy, such as its long-short offering which seeks to dampen the volatility inherent in the asset class, would generate strong returns over the medium to long term.
The Pengana Global Resources Fund is open to wholesale and retail investors with a minimum investment of $20,000.
