Nathan Lim

Evidentia Group is proud to celebrate the retirement of Nathan Lim, after an impressive 30-year career, shaping investment strategies and driving innovation in financial services.

Nathan currently serves as Chief Investment Strategist at Evidentia Group, shaping the firm’s market voice, leading the Lonsec Investment Solutions (LIS) portfolio management team and driving strong client outcomes. During his tenure as Chief Investment Officer at LIS he and the team drove portfolio construction and asset allocation. Previously, he held senior roles at Australian Ethical, championing responsible investing, and at Morgan Stanley, delivering world-class research and client solutions.

As Nathan transitions into retirement, he is working closely with Darren Beesley, Evidentia Group’s Chief Investment Officer, to ensure a seamless handover. There are no changes to the portfolio management of any client portfolios, with all Evidentia Group’s Portfolio Managers remaining in place (including Deanne Baker, Dan Moradi and Nick Field, all who have extensive tenures with LIS). The portfolio management team forms part of Beesley’s broader Investment division, ensuring stability and continuity for clients. Beesley has 20 years’ experience in funds management and asset consulting, most recently leading AMP Capital’s $80 billion multi-asset portfolio team, and previously managing diversified strategies at Perpetual. Executive Director of Investment Management, Troy Swann continues to focus on the group’s go-forward strategy and governance framework.

Reflecting on his career, Nathan says, “For more than 30 years, I have had the privilege of serving my clients to the very best of my ability. It has been an honour to have so many place their future in my hands, and in the hands of the teams I’ve been fortunate enough to work alongside. Thank you to all our clients for your trust, your confidence, and your collaboration. And to the markets—especially volatility—thank you for keeping every day interesting.”

“I’m grateful for the opportunities I’ve had to contribute to this dynamic industry and excited about the next chapter of my life. I’m incredibly proud to be leaving behind a larger, newly combined investment team that has never been stronger, where our clients continue to be in excellent hands.”

CEO of Evidentia Group, Mike Wright commented, “Nathan has been a real asset to the Lonsec Group, Evidentia Group, our clients and the broader investment community. His depth of knowledge and strategic thinking have left a lasting impact in our industry. We thank Nathan for his contributions and wish him, his wife Claire and their family every success in the future.”

Looking ahead, Mike Wright continues “We are committed to build on the Group’s strong foundation as the undisputed leader in managed accounts, growing through trusted relationships — so our clients and people can thrive in business and life. With Darren at the helm of our larger combined investment team, we are well-positioned to navigate the future with confidence and clarity, delivering an exceptional experience trusted by advisers, valued by investors, and powered by a culture of excellence.”

Evidentia Group has commenced the recruitment process for a Senior Investment Strategist and is expected to make an announcement regarding this new appointment in the new year.

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As in previous years, the quality and number of entries continues to grow, a reflection of the maturity of the managed account market in Australia.

Toby Potter, IMAP Chair: “Managed Accounts have become one of the fastest growing parts of the advice profession because they provide advisers and licensees with a superior way of delivering better client outcomes that more closely align with client goals. We are seeing continued evolution of the technology and portfolio management capability in Managed Accounts”.

“We had more entrants this year than ever, and a wider variety of portfolios. We are demanding ever higher standards of ourselves as a profession and this is reflected in the standard of portfolio management from the asset consultants, investment teams and the advisers who connect these capabilities to each client’s own circumstances”.

“The IMAP Managed Account Awards are only possible because of the commitment of the judges who dedicate considerable time, and the benefit of their professional expertise, to assessing the many entries which we receive. On behalf of all the entrants I want to thank them for their efforts.”

The IMAP 2025 Managed Account Awards Category Winners are:

About the IMAP Awards Judges

Deanne Baker has joined the judging panel for the first time this year and is Deputy Chief Investment Strategist for Evidentia.

Brad Matthews has 30 + years experience in the finance industry and is a highly regarded investment strategist.

Dominic McCormick cofounded multi asset and alternatives manager Select Asset Management.

Nigel Douglas is the principal of Douglas Funds Consulting and provides investment committee and research services.

Rob da Silva is Head of Research at Foresight analytics and has 39+ years of experience across two careers as a highly regarded investment manager & a leading research ratings expert.

Chetan Trehan is Sector Head real Assets, Alternatives and Multi Asset Funds with research house SQM Research.

Toby Potter is Chair of IMAP and Executive Director of Philo Capital Advisers.

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Nathan joins from Morgan Stanley Private Wealth Management Asia where he was Co-Head of Investment Management Services. While at Morgan Stanley, Nathan developed Morgan Stanley’s award winning multi-asset investment approach for both the Australian and Asia wealth management divisions. Nathan started his career in 1995 and has extensive experience in asset management, research and stockbroking that has taken him across Asia, North America, the Middle East and Australia. Prior to Morgan Stanley, Nathan managed Australian Ethical Investment’s International Shares Fund, where he developed a passion for responsible investing.

Commenting on the appointment, Lonsec CEO Mike Wright said “We are delighted that Nathan is joining Lonsec to lead the Investment Solutions business as he brings considerable international expertise in multi-asset strategies and a particular interest in responsible investing.

Nathan joins the business at an exciting time as we continue to grow our expanding managed accounts business. This includes renewing our commitment to partner with quality advice businesses to support them with tailored managed account solutions.”

Nathan echoes these sentiments, saying “I am excited to be joining Lonsec as I have long admired their reputation and commitment to helping clients achieve their financial goals. I look forward to leading a great team of investment professionals and getting back to my responsible investing roots.”

As CIO, Nathan will join the Product and Investment Oversight Committee, Asset Allocation, Manager Selection, Direct Equities and Tailored Portfolio committees, which oversee the Lonsec Investment Solutions portfolios. These committees are a hallmark of the Lonsec portfolio management approach.

Deanne Baker has been appointed to the newly created position of Deputy CIO. Deanne will also continue in her role as Portfolio Manager Multi-Asset Portfolios, managing the multi-asset, retirement and sustainable portfolios. Deanne has been with Lonsec for 15 years, working across both Lonsec Research and Lonsec Investment Solutions. Deanne will be assisted by Eleanor Menniti who rejoins Lonsec as Associate Portfolio Manager, Multi-Asset Portfolios, after five years at BlackRock.

Deanne comments “I am excited to have Nathan join Lonsec as his shared values, investment experience and leadership qualities make him a great fit for our team. I am looking forward to working with him to continue delivering strong outcomes for our clients.

I am equally excited about the return of Eleanor Menniti to the team, bringing with her new skills and insights from a leading global fund manager.”

The Chairman of Lonsec’s Product and Investment Oversight Committee (PIOC), Dr Steve Garth, was also pleased with the new appointments, saying, “We are thrilled to have Nathan join the Lonsec team, and I look forward to working closely with him on the PIOC. We are also very grateful to Deanne Baker for her contribution as interim CIO and her contributions to the PIOC.”

Veronica Klaus will head up the newly named Tailored Solutions business as Head of Tailored Investment Solutions. Assisted by a team of Portfolio Managers, Veronica will lead Lonsec’s renewed focus into bespoke and tailored investment solutions for larger self-licenced Advice firms and large licensees. Veronica has been with Lonsec for 12 years.

Nathan will commence the position of Chief Investment Officer and Executive Director, Lonsec Investment Solutions in August 2023.

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Lukasz will be with the business until mid-June and is working closely with the team to ensure a smooth transition.

In the interim Michael Wright, Lonsec CEO and Managing Director Implemented Portfolios will assume Executive Director responsibilities for Lonsec Investment Solutions.

During this period Lonsec plans to go to market to appoint an Executive Director, Lonsec Investment Solutions and CIO.

Michael has an extensive knowledge of the Lonsec business and investment markets and is extremely well-placed lead the Lonsec Investment Solutions business.

Lonsec’s trusted and experienced team will continue to manage the portfolios.

Lonsec’s managed account portfolio and consulting services continue to be managed by experienced and long-standing members of the Lonsec team who will report to Michael, including:

• Deanne Baker, who has been appointed interim Chief Investment Officer (CIO). Deanne will continue to be the Portfolio Manager Multi-Asset Portfolios, managing the multi-asset, retirement and sustainable portfolios. Deanne has been with Lonsec for 15 years;
• Danial Moradi, Portfolio Manager Listed Portfolios, manages the listed diversified and Australian equities managed account portfolios and has also been with Lonsec for 15 years;
• Veronica Klaus, Head of Investment Consulting who has been with Lonsec for 12 years and leads our investment consulting services including the management of Lonsec’s tailored managed account portfolios; and
• Chris Robertson, Portfolio Manager ESG Aware for Implemented Portfolios (IPL) who has transitioned across with the acquisition of IPL.  Chris has over 30 years’ experience across leading Asset Managers.

They will continue to be supported by the Lonsec Investment Solutions team as well the broader Lonsec business.

Since the inception of Lonsec Investment Solutions, portfolios have been overseen by its Investment Committees. The Committees include its Asset Allocation, Manager Selection, Direct Equities and Tailored Portfolio committees which are all comprised of senior members of the Lonsec Investment Solution and Lonsec Research teams, as well as independent investment experts.

Deanne will chair the Lonsec Investment Solutions Asset Allocation Investment Committee as well join the IPL Asset Allocation Investment Committee as a member.

The IPL portfolios will continue to be overseen by IPL’s Asset Allocation Investment Committee chaired independently by Paul Dortkamp. Tim Farrelly, from Farrelly’s Investment Strategy, also continues to be a member of the IPL AAIC, which he and Paul have served on continuously since the inception of IPL in 2010. Lonsec is also expanding this committee with the additions of Deanne Baker (as mentioned above), Chris Robertson and Nick Field who has recently been promoted to the role of Portfolio Manager, IPL Portfolios. Nick has extensive investment research and portfolio management experience.

Finally, we have bolstered our internal portfolio governance framework with the establishment of a group Product Investment Oversight Committee (PIOC).

The PIOC is a sub board committee to the Lonsec Board and is responsible for ensuring that the IPL and Lonsec portfolios have the necessary personnel, processes and risk management frameworks in place.

The investment governance role that the PIOC discharges is important to Lonsec and our clients. The PIOC ensures that all the portfolios within the Lonsec Group remain managed in accordance with their stated mandates, objectives and have the right resources and capabilities to execute on their investment strategies.

Dr Steve Garth is the independent chair of the PIOC and he has extensive experience in asset management and investment governance.

Lukasz has made a significant contribution to the company having led Lonsec’s Investment Consulting services and establishing and building the Lonsec Investment Solutions business.

Mike Wright says, “Lukasz has made an outstanding contribution to Lonsec and the industry, establishing our strong investment consulting and managed account capabilities.  As Group CIO, Lukasz has overseen the various investment committees used to make medium-term investment decisions based on a clearly defined, common sense research-based investment philosophy.”

“We wish Lukasz all the best with the next exciting stage of his career at a leading global l asset manager and can assure all investors that the team remain absolutely committed to continuing the great work” concludes Mike.

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Ron Mehmet, currently Head of Fixed Income Research at Lonsec Research will move to LIS as a Senior Consultant, to work with consulting clients and support Deanne Baker, Multi Asset Portfolio Manager, with portfolio management. Ron brings a wealth of fixed interest experience and broader portfolio construction skills which will add immensely to LIS’s capabilities.

Nicolas Ward is also joining LIS as a Senior Consultant. Nick joins from Quilla, the specialist managed portfolio manager, and brings a strong understanding of managed accounts, having worked closely with advisory firms in running bespoke managed account solutions. Prior to Quilla, Nick worked as NAB/MLC’s Private Investment Consulting (PIC) division, providing consulting services to the NAB aligned adviser network.

Amber Sunil will be joining LIS from Lonsec Research as an Investment Consultant. Amber will work closely with LIS Senior Consultants to service clients, as well as supporting the client reporting and managed account operational functions. Amber has a depth of product knowledge notably within global equities, which will be valuable to LIS’s portfolio construction process.

These three appointments bolster LIS’s managed accounts capabilities, which has seen significant expansion over the past six months.  Inflows hit a record, exceeding $200m in February and bespoke managed portfolios have recently launched with CFS and Count.  The LIS appointments follow the recent expansion of the Sales Team with dedicated Practice Transformation consultants.

CIO and Executive Director, Lukas de Pourbaix, says “I am pleased to welcome Ron, Nicolas and Amber to the LIS team, and it is testament to the high quality individuals within the broader Lonsec group that two of the three candidates have come from Lonsec Research”.

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Future Safe was purpose-designed from the point of view of the customer, following detailed market research with Australian financial advisers and retirees. The research identified key challenges within the retirement community and the product features that might address these. 

Allianz Retire+ Chief Executive, Matthew Rady said, “We’re delighted Lonsec has not only reviewed our first product, Future Safe, but has awarded it a rating of ‘Recommended’. This is an extremely encouraging outcome which clearly demonstrates the quality of the product, its accessibility and affordability for advisers and their clients, and the capability of the combined backing of Allianz and PIMCO.” 

Allianz Retire+ Head of Distribution, Caitriona Wortley continued, “We’re excited that Lonsec has issued a positive report so soon after Future Safe’s launch. This will really help us deliver on our mission to provide greater certainty to Australian retirees.” 

Future Safe is a seven-year investment product, with inbuilt flexibility, issued by a life insurance company. It provides a simple way for clients to access the returns of the sharemarket with the certainty of a range of outcomes. At the commencement of a policy clients, in consultation with their adviser, select either one or a combination of fixed rate, market-linked investments and protection options to suit their needs. 

Each market-linked option is made up of a ‘Cap’ and a ‘Floor’, allowing clients to decide their range of returns up front and limit potential losses. 

Rating Future Safe ‘Recommended’ in its review, Deanne Baker, Lonsec’s co-Head of Manager Research stated: “Lonsec considers Future Safe to be a thoughtfully considered and well-designed product, that may assist in overcoming a major challenge facing retirees; sequencing risk. Future Safe provides investors a vehicle to participate in market-linked returns within inbuilt protection and flexibility, at a reasonable, and importantly, transparent cost and market leading with respect to total cost transparency in the retirement space. Lonsec is comforted in the heavy involvement of both Allianz (one of the world’s largest insurers in a highly regulated industry) and PIMCO (one of the world’s largest fixed income managers).”

*The Lonsec Rating (assigned March 2019) presented in this document is published by Lonsec Research PTY Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to “General Advice” (as defined in the Corporations Act 2001 (Cth) and based solely on consideration of the investment merits of the financial product. Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Allianz Retire+ products, and you should seek independent advice before investing in this product. The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant documents following publication. Lonsec receives a fee from the Fund Manager for researching the product using comprehensive and objective criteria. For further information regarding Lonsec’s ratings methodology, please refer to the website at: http://www.lonsecresearch.com.au/research-solutions/our-ratings

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Retail investors are increasingly rejecting traditional investment models, instead turning to more dynamic and tailored products, including goals-based investing and lifestage funds.

“The failure of existing models to meet investor expectations has already seen a significant push to self managed superannuation funds and do-it-yourself investing,” Lonsec Research Senior Analyst Deanne Baker says.

“Many investors have felt let down by static and unresponsive products on offer,’’ Ms Baker says. Much of the dissatisfaction stems from competing performance measurements, according to the latest MultiAsset Sector Review by the research and ratings company.

“Retail investors often judge an investment’s performance against personal objectives, how they will meet living expenses, long term aspirations, family needs or travel goals. Fund managers, however, measure in terms of ‘benchmark relative’ or ‘alpha’ or ‘peer relative’ performance. There needs to be a more tangible link between fund objectives and investor outcomes,” Ms Baker says Fund managers are responding, however, and beginning to offer new products never seen before in the retail space.

“We are starting to see solution-based investments replacing the traditional off the shelf and one-size-fits-all models,” Ms Baker says. “Previously, these products were the exclusive domain of institutional investors but now they are being specifically packaged and tailored for individual investors, particularly in the multi-asset sector.

“Product design is no longer being driven by fund managers in an ‘if you build it they will come’ fashion. Instead, investor needs and goals are now at the heart of the product development process,’’ she says.

According to Lonsec’s latest review, multi-asset managers are leading the charge in goals based investing with multi-asset real return strategies, in particular, having enormous success as inflows surged from $327 million to $14.4 billion during the past two years to June 2014.

Lonsec’s Mult-Asset Sector Review also found Lifestage funds, also known as target date funds or lifecycle investments, are also showing a significant increase in uptake.

The asset allocation of Lifestage funds automatically tilts to more conservative as the investor ages. “Popular in the United Kingdom and United States, these glide-path strategies are relatively new but becoming increasingly popular in the Australian market,’’ Ms Baker says.

Lifestage funds have recently been included as default options under MySuper legislation which is expected to further boost new product development, she says.

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