Boutique investment firm OC Funds Management has acquired Patriot Managed Accounts to boost its investment team and tap into rising demand for managed accounts from high net worth (HNW) clients.
The acquisition significantly enhances OC Funds’ investment capabilities beyond its four equity funds to include individually managed accounts and separately managed accounts, Melbourne-based OC Funds said.
“This is an exciting step for OC Funds Management and confirms our commitment to grow the services we offer to our clients,” OC Funds chairman Charles Baillieu said.
Patriot principal Stephen Sedgman and portfolio manager Stephen Evans will join the OC Funds investment team as part of the acquisition.
“We are leveraging the proven investment skills of the OC team and adding depth of experience as we welcome Stephen Sedgman and Stephen Evans to our team,” Baillieu said.
“I’m sure our clients will enjoy significant benefits from additional boutique services and a broader perspective on the markets.”
Patriot runs managed accounts for HNW clients, superannuation funds, companies, charities and family trusts.
OC Funds’ products include the Premium Fund, Dynamic Fund, 200 Fund and Concentrated Fund.
The two firms together have just under $200 million in funds under management.
The purchase is expected to be completed by 30 April, OC Funds said.
