Treasury Group has reported that funds under management (FUM) of various boutiques in which it owned stakes, including Investors Mutual and Orion Asset Management, tumbled in the 2008/09 financial year while Treasury Asia Asset Management’s FUM jumped.
Investors Mutual, the Australian equities specialist established by Anton Tagliaferro in 1998, saw FUM slide 27.06 per cent to $3.069 billion in the 12 months.
The boutique’s FUM is 49.1 per cent lower than the $6.03 billion it managed at the end of June 2007.
“[Investors Mutual’s] FUM was impacted over the year by weakness in the retail market,” Treasury Group said.
The S&P/ASX 300 Accumulation Index is down around 20 per cent for the 12 months to 30 June, so market movements partly explain the decline in FUM, Lonsec general manager of research Grant Kennaway said.
“Investors Mutual’s performance relative to the market has actually been reasonably solid, albeit negative,” he said.
Orion Asset Management saw FUM decline 21.19 per cent to $3.919 billion in the recent fiscal year.
Global Value Investors and Cannae Capital Partners, both based in Sydney, also announced falls in FUM.
But several boutiques in the Treasury Group stable reported higher FUM in the 2008/09 fiscal year.
Treasury Asia Asset Management (TAAM), a specialist Asia Pacific boutique founded in 2005 by Peter Sartori and Treasury Group, saw FUM surge 75.79 per cent to $1.278 billion in the period.
“TAAM has experienced a year of solid growth, building on its list of institutional clients. TAAM is now focused on continuing the growth of its retail business as well as its Dublin-based UCITS fund,” Treasury Group said.
Trilogy Global Advisors’ FUM advanced 20.42 per cent to $1.126 billion while RARE Infrastructure’s FUM gained 18.22 per cent to $934 million in the 2008/09 financial year.
RARE’s funds have skyrocketed from $282 million at the end of June 2007.
Treasury Group’s total FUM fell 12.49 per cent to $10.93 billion in the 12 months to 30 June 2009, compared with a 26 per cent plunge in the All Ordinaries Index.
