Boutique Prime Value Asset Management appoints new portfolio manager
Richard Ivers
Boutique fund manager, Prime Value Asset Management, has appointed a new portfolio manager, Richard Ivers, to its Australian equities team.
Richard has over 16 years’ experience covering Australian equities in both portfolio management and research analyst roles.
Richard’s previous roles include two years at Contango Asset Management. He was portfolio manager of the small companies fund which registered top quartile performance over all periods up to two years.
Prior to this Richard was a portfolio manager at River Capital and a senior research analyst at Ord Minnett.
Yak Yong Quek, CEO of Prime Value Asset Management, said Richard brings a good blend of analytical experience and business strategy to the role. “Richard has developed a strong track record across different disciplines. He brings a good understanding of business strategy and finance having worked for several companies in the IT and finance sectors in Europe.
“We think that combination of corporate experience and financial analysis is well suited to our approach.”
Richard Ivers will be working with the Prime Value Equities team, along with other portfolio managers ST Wong and Leanne Pan. Richard will also be responsible for managing the Prime Value Emerging Opportunities Fund, alongside ST Wong.
The Prime Value Emerging Opportunities Fund is a benchmark unaware high conviction fund investing in companies with a market capitalisation of less than $500m. The Fund has returned 14.6 per cent to investors since inception in October 2015 (net of fees except performance fees).
The manager’s other equities funds include the Prime Value Opportunities Fund, a concentrated investment vehicle which has returned 13.1 per cent to investors per annum since inception in October 2012 (net of fees except performance fees).
Prime Value Asset Management is part of an investment group including Shakespeare Property, managing more than $1.3 billion across equities, cash and direct property investment.
Mr Quek says one of the boutique’s strengths is connecting different perspectives through cash, equities and property. “We feel this provides us a 360-degree view, which is an advantage due to the crossover effects which occur across different markets.”
