Following Dustin Adams’ resignation as portfolio manager in September 2012, Zenith placed the Advance Australian Shares Multi-Blend, Advance Australian Smaller Companies Multi-Blend and BT Wholesale Multi-Manager Australian Shares Funds “Under Review”.
Subsequently, Advance has hired Mary Feros as portfolio manager of the aforementioned funds. Zenith has now conducted discussions with Feros and senior members of the Advance Asset Management, and performed thorough analysis. After careful consideration, Zenith has assigned an “Approved” rating to each Fund.
Zenith’s View
Zenith believes Mary Feros is a strong addition to the team and replacement candidate for Dustin Adams. Feros brings over 20 years of industry experience, and prior to joining Advance she was Joint Investment Director at 452 Capital.
Feros will work closely with Dimitra Voutas, interim portfolio manager, to ensure a smooth transition. Zenith rates the Fund “Approved”.