Michael Maughan was previously a portfolio manager on the Tyndall Australian Share Income fund and spent 18 years with the fund manager. Prior to joining Tyndall, he worked at Gartmore and BNP Paribas.
He will now take up a position as senior portfolio manager in Pengana’s Australian equities team, working alongside chief investment officer (CIO) Rhett Kessler and deputy CIO Anton du Preez.
The $465.3 million Pengana Australian Equities fund has returned 12.1 per cent per annum over three years versus returns of 10 per cent per annum by its benchmark of RBA cash rate plus 6 per cent and while it also runs an Australian smaller companies fund.
Chief executive, Russel Pillemer, said: “Michael is well-known for his disciplined investment approach, deep company insights, and consistent delivery of income and growth outcomes for clients.
“Michael will operate as a peer alongside our existing senior team members, contributing to the collaborative culture that defines Pengana’s investment philosophy.”
Kessler said: “Michael brings expertise across technology, media, telecoms, transport and property, which complements the team’s existing strengths and expands our research depth.
“We also value Michael’s disciplined focus on fundamental cash flow analysis, his strong senior corporate relationships, and his clarity in communication with both clients and stakeholders.”
Commenting on his appointment, Maughan said: “I’m thrilled to be joining Pengana’s Australian equities team. I’ve always admired Rhett Kessler and Anton du Preez and the team for their integrity and skill as investors, operators, and communicators.
“While we all bring varied experiences and skills, we share the same philosophy and have a genuine commitment to growing clients’ wealth steadily and responsibly.”
Earlier this month, Bell Financial Group appointed Will Riggall as its new CIO, joining from Clime Investment Management where he held the same position. Riggall will lead Bell’s investment strategy and philosophy across asset classes and will continue to develop investment solutions for its clients.
Meanwhile, Challenger appointed Damian Graham in a newly-created role as its group CIO, joining from the same role at superannuation fund Aware Super where he had worked since 2016.
The position to align Challenger’s investment capabilities and enhance coordination between its operating entities.
