Roy Keenan

Yarra Capital Management (Yarra), one of Australia’s largest independent active fund managers, is pleased to announce that leading research house Lonsec has upgraded Yarra’s Enhanced Income Fund (Fund) to its highest rating, ‘Highly Recommended.’

Lonsec said the awarding of its top rating reflects a combination of the considerable investment expertise of the Fund’s Portfolio Manager and its underlying track record of conservative risk management and strong performance over time.

In assigning its highest rating, Lonsec commended the Fund’s conservatively managed approach to investing in hybrid and other high yield securities, which it noted has resulted in medium-term returns above the peer median (from a total, excess and income perspective).

Lonsec also cited the combined expertise of the investment team, led by Roy Keenan, Portfolio Manager and Co-Head of Fixed Income, and Darren Langer, Co-Head of Fixed Income, both with over 30 years of credit analysis and fixed income investment experience. Their leadership added “strong skills and experience in credit analysis and portfolio structure” to the Fund’s investment process, Lonsec said.

Launched in June 2003, the Yarra Enhanced Income Fund aims to earn higher returns than traditional cash management and fixed income investments (over the medium to long term) through exposure to a diversified portfolio of hybrid (debt/equity) and fixed income securities.

The Fund engages 10 investment professionals to manage between 80 and 120 issuers, weighted largely towards higher-quality credits and preferred relative value stocks. Since inception, the fund has delivered a return of 6.05% per annum (net of fees, including franking) to the end of October 2024, equivalent to an excess return of 2.77% per annum above the RBA Cash Rate over the same period.

Lonsec’s report noted that the Fund’s ‘Highly Recommended’ rating reflects the research house’s view that it has a ‘very strong conviction that the product can meet its investment objectives.’

Roy Keenan, Portfolio Manager of Yarra Capital Management’s Enhanced Income Fund, commented: “We are honoured to receive an upgrade to Lonsec’s highest possible rating, reflective of the Fund’s strong, long-term investment performance. We thank clients and advisers for their support over the Fund’s 20-year journey, and look forward to continuing to deliver consistent returns into the future.”

Edward Eason, Managing Director of Yarra Capital Management, commented: “The further endorsement from Lonsec is reflective of Yarra’s relentless pursuit of risk-adjusted returns and an unwavering commitment to its philosophy and process. We congratulate Roy and the team, and are excited for the ongoing successes that lie ahead.”

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Notes:
[1] Lonsec ratings definitions, Yarra Enhanced Income Fund, Lonsec Research, 21 November 2024.

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Rommel Hacopian

Yarra Capital Management (Yarra) has announced promotions within its growing distribution team, with Nick Green promoted to Head of Institutional and Rommel Hacopian promoted to Head of Intermediary.

Nick is currently the senior Institutional client service representative at Yarra and has over 17 years’ industry experience. Nick has worked at Yarra and predecessor organisations for nine years and was a foundational member of the Yarra business at inception in January 2017. Nick started his career with Colonial First State.

Rommel is currently the senior Intermediary client service representative at Yarra and has over 25 years’ industry experience.  Rommel joined Yarra as a Distribution Manager in March 2020 with responsibility for servicing the intermediary market, focusing on National Dealer Groups, Platforms, Retail Investment Consultants and IFAs. Prior to joining Yarra, Rommel spent almost 20 years with Challenger where he helped develop, manage and implement the retail distribution strategy for Challenger Life and the Fidante Boutiques.

Nick and Rommel continue to report to Edward Eason, Managing Director, and oversee a distribution and client services team of 10 professionals with an average 15 years’ experience. The Distribution team engages with Institutional, Intermediary, HNW and retail clients on Yarra’s full suite of over 20 investment capabilities.

Edward Eason, Managing Director, Yarra Capital Management, commented: “We are delighted to announce Nick and Rommel’s new roles. They are both first class industry professionals with deep client relationships and strong leadership capabilities.

“With Nick and Rommel heading the Firm’s client team, supported by a large and growing team and capability set, we remain well placed to continue growing the business. They will provide excellent leadership as we further expand Yarra Group’s suite of domestic and international equity, fixed income and multi-asset strategies.”

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Tim Mugglestone

Yarra Capital Management (Yarra) is delighted to announce Tim Mugglestone has joined the firm as Research Relationship Manager in its sales and distribution team. 

With over seven years of experience, Timothy brings an excellent set of skills in sales and relationship management in the financial services industry, having previously worked at two of Australia’s largest financial services organisations.

Tim joins Yarra in Sydney from BT Financial Group where he was an Investment Specialist, responsible for the management of wholesale, institutional and retail relationships and new business opportunities.

At Yarra, Tim will be responsible for managing and developing deep relationships with key research houses and will provide end-to-end management of investment strategy reviews, working closely with the leadership team to showcase the Firm’s investment capabilities.

Edward Eason, Managing Director, Yarra Capital Management, commented: “We are delighted to welcome Tim to the team as we continue to grow Yarra as one of Australia’s leading, independent active fund managers. He has a demonstrated track record in building strong relationships and will assist the team in continuing to develop new business opportunities.”

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Rhys Corry will join Yarra as an Investment Manager in the Fixed Income team, and Joshua Ginges will join as an Analyst in the Yarra Australian Equities team.

Rhys has over seven years of experience working in debt capital markets. He joins Yarra from S&P, where he is currently an Associate responsible for a portfolio of Australian and NZ corporate issuers spanning mining, real estate, healthcare and media & entertainment. Rhys will be based in Melbourne, commencing in January 2022.

Yarra also welcomes Joshua Ginges as an Analyst in the Australian Equities team based in Sydney, working with Joel Fleming, Portfolio Manager of Yarra’s Microcaps Strategy. He joins from Minchin Moore Private Wealth, where he is an Associate Portfolio Manager.

Yarra is also pleased to announce two promotions within its Fixed Income investment team.

Chris Rands has been promoted to Deputy Portfolio Manager of Yarra’s Enhanced Income Strategy. Chris has over nine years of experience in fixed income and works with the team on the strategic direction and portfolio positioning for the Australian Bond Fund strategy. Chris will work closely with Roy Keenan, Co-Head of Australian Fixed Income, as the team continues to grow its footprint and clients in Australia and Japan.

Phil Strano has been promoted to Deputy Portfolio Manager for Yarra’s RMBS and LBO strategies. Phil’s deep experience in all major credit segments ensures he’s well placed to support Yarra’s Senior Portfolio Managers John Sorrell and Leo Leslie to further build out both strategies. Phil has over 20 years’ experience managing portfolios as a credit specialist with a deep understanding of the fixed income landscape.

The Yarra Australian Bond, Absolute Credit and Income Plus strategies are unchanged and will continue to be led by Portfolio Managers Darren Langer and Chris Rands (Yarra Australian Bond), Phil Strano (Yarra Absolute Credit), and Roy Keenan and Tim Toohey (Yarra Income Plus).

Edward Eason, Managing Director of Yarra Capital Management, commented: “We are delighted to welcome new team members Rhys and Joshua as we continue to grow the Firm’s Fixed Income and Australian microcap equity strategies. They are standout hires and we’re excited to welcome them into Yarra for a big year ahead.

“We are similarly delighted to announce Chris and Phil’s promotions in recognition of their consistent high performance, growth and development. They are both extremely capable portfolio managers, and these expanded roles confirm the quality, depth and breadth of Yarra’s Fixed Income team.”

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Mr Eason will have oversight of Yarra’s day-to-day operations, and will be responsible for the delivery of Yarra’s strategic priorities. He will be based in Melbourne, and will lead the Firm’s senior management team.

Mr Eason is an accomplished financial services leader, bringing more than 20 years’ financial services industry experience. He was most recently Chief Financial Officer, Enterprise Services, at Commonwealth Bank of Australia (CBA) where he had financial accountability for the CBA Group’s digital, technology and operations functions, a division representing approximately 11,000 team members (new number). Since 2017, Mr Eason was also a Director of Colonial First State Investments Limited, the issuer of Colonial’s FirstChoice range of products.

Before becoming CFO of Enterprise Services in 2017, Mr Eason was an Executive General Manager at CBA, where he had overall responsibility for the bank’s global strategy function, working closely alongside the Board, CEO and Executive Leadership team. Before joining CBA in 2012, Mr Eason spent 14 years at Goldman Sachs, where he was a Managing Director and Co-Head of the Australian Financial Institutions Group (FIG), one of Australia’s largest and most successful FIG teams.

Dion Hershan, Executive Chairman, Yarra Capital Management, commented:  “In support of Yarra’s ‘client first’ approach, a key priority for the Firm post the recent acquisition of Nikko Asset Management’s Australian business was to appoint a Managing Director to lead and grow a larger and more complex organisation, one that now manages over $20bn of assets.

“Ed’s long and enviable financial services experience makes him the ideal candidate to take Yarra forward into its next phase of growth. He shares our long-term vision for the business, and we couldn’t be more pleased that Ed has agreed to join us.”

Edward Eason, incoming Managing Director, Yarra Capital Management, added:  “I’m incredibly excited to be joining Yarra. The business has an outstanding reputation for operational excellence, and I couldn’t be happier to be joining a team that is so well placed to continue to deliver for its clients. I look forward to working with Dion and the extended senior management team to help the business deliver on its long-term objective of becoming Australia’s most trusted independent investment partner.”

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