Australian Ethical Investment (ASX:AEF) has announced the resignation of Portfolio Manager Andy Gracey, following 20 years of service, leadership and founding management of its Emerging Companies Fund (the Fund).
Mr Gracey will transition portfolio responsibility to Head of Equities Nathan Parkin, who will assume full management of the Fund from the end of September, with Mr Gracey remaining in an advisory capacity until mid-December 2025.
Deputy CIO John Woods said, “Andy has made a valuable contribution to the firm over the past 20 years, and we’re thankful for his dedication and long-standing service. We’re grateful for his commitment to both the firm and our clients, and we wish him all the best in his next endeavour. We’re pleased to have a capable and experienced successor in Nathan, and we’re confident in the continued investment discipline and focus on values that have been hallmarks of our approach.”
Departing Portfolio Manager Andy Gracey said, “I’ve enjoyed the past 20 years at Australian Ethical immensely and am proud to have reached this milestone. I have complete confidence in Nathan’s leadership and was thrilled when he accepted the role. I’ll continue to support the business and the team through to my departure in December, and I look forward to working closely with everyone over the next five months.”
Head of Equities and incoming Portfolio Manager of the Fund Nathan Parkin said, “It’s an honour to carry on Andy’s exceptional management of the Fund. We’re excited by the continuing opportunities for clients in small and micro-caps, utilising our excellent pedigree in researching this part of the market.”
Mr Parkin brings more than 30 years’ experience in Australian financial markets, including two decades in small and mid-cap management. Previously he managed up to $6.5bn in Australian equities portfolios as Deputy Head of Equities at Perpetual Investments and co-founded Ethical Partners Funds Management where he was the Investment Director.
Since its inception 10 years ago, the Emerging Companies Fund has delivered 12.2% returns pa compared to its benchmark of 6.8% pa over the same period[1].
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