The fund aims to generate absolute long-term returns by investing responsibly in emerging markets. This focus has meant, for example, that the strategy has never invested in Chinese education, media or internet businesses because of the governance compromises this requires. It is managed by Skerryvore Asset Management, which is a boutique of Bennelong’s UK arm, BennBridge.

Glen Finegan, lead portfolio manager at Skerryvore, said alignment of interests is critical to successful investment in emerging markets.

“Investing alongside managers and owners who control their own destinies and share our belief in a long-term approach is a fundamental tenet of our investment philosophy.

“As fair-minded and far-sighted emerging market investors, we look at companies first and foremost from the perspective of quality and alignment.”

Chief executive officer of Bennelong Funds Management, Craig Bingham, said Skerryvore is a world-class team with a deep understanding of emerging markets and a proven track record.

“The team’s insights into emerging markets companies, coupled with a commitment to sustainable, high-quality investing, will provide Australian investors unique access to companies with dynamic growth potential from some of the world’s advancing economies.

“Skerryvore has seen strong growth in assets thanks to support from institutional clients across Australia, Europe and North America. This fund launch enables the Australian financial adviser market to gain access to this high-quality boutique investment team.”

The fund typically holds between 40 and 80 stocks. Its benchmark is the MSCI Emerging Market Index, and the minimum suggested investment timeframe is five to eight years.

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The boutique will be based in BennBridge’s office in Edinburgh. BennBridge also has offices in London and New York.

Craig Bingham, CEO of Bennelong and BennBridge, said: “Glen is a manager with an outstanding reputation built over many years, with an enviable track record, and his investment philosophy is in line with Bennelong and BennBridge.

“We look forward to working with him over the coming months to build Skerryvore’s business.”

Skerryvore will invest responsibly in emerging markets with the aim of generating long-term returns, with an unwavering focus on the quality of the businesses in which it invests.

The business is named after Scotland’s tallest lighthouse, which is often cited as an outstanding example of engineering constructed in a challenging location – a clear metaphor for safe navigation in risky environments.

Mr Finegan, formerly the head of emerging market equities at Janus Henderson, said he chose BennBridge thanks to the company’s proven success in partnering with quality asset managers, as well as a clear alignment of interests.

“I’m committed to continuing to invest according to my established philosophy and process, and am pleased that fits so well with BennBridge’s business,” he said.

Mr Bingham said it was a testament to the strength of the multi-boutique model that the business continued to attract partners of such high calibre.

“Our strategic long-term partnerships are key to our business, and our model reflects that.

“People invest in our funds; our boutique partners manage the money; and we manage the business to deliver the best possible outcomes for our clients.

“Our focus continues to be on partnering with exceptional investment talent to bring quality funds to market.”

He stressed the importance of ensuring the business and its boutiques are aligned culturally as well as operationally.

“While each of our boutiques has its own distinctive philosophy and approach, they all believe in the benefits of active investment management.

“They are also all the majority owners of their businesses and invest in their own funds, ensuring their objectives are the same as our clients in always aiming for high performance.”

Bennelong and BennBridge are part of the BFM Group, a multi-boutique investment company that now partners with 12 asset managers across the globe to deliver actively managed funds in the listed equity space.

“Our boutiques invest in Australian, UK, Asian and global equities; listed global infrastructure and real estate; and global emerging markets,” said Mr Bingham.

“We see increasing demand for our strategies across Australia, the UK, Europe and North America, and are committed to unlocking the wealth potential of global markets for the benefit of our clients.”

The Group has experienced significant global growth over the past few years, with total assets under management now more than AUD 11 billion (at 30 September 2019).

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Based in Edinburgh, Ian will be responsible for interacting with clients, advisors and internal Henderson teams on all aspects of the portfolios, ensuring that marketing and reporting demands do not become too great on the fund managers. He will report directly to Glen Finegan, head of emerging market equities.

Ian joins the team from the Henderson Global Equities team which was restructured in December 2016. Prior to joining Henderson Ian was an Investment Manager at Baillie Gifford.

Glen Finegan says, “The expansion of the Edinburgh based emerging market equities team marks a milestone in the development of this franchise and reflects our continued commitment to the asset class. Ian’s previous investment experience and time at Henderson will be invaluable as we continue to deliver performance and service for our clients.”

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Glen Finegan

Henderson Global Investors has launched a global emerging markets equity fund, continuing the expansion of its range of innovative investment solutions for Australian investors.

The Henderson Global Emerging Markets Equity Fund (‘Fund’) provides investors with exposure to emerging markets through a high conviction portfolio of 40 – 80 quality companies operating in a diverse range of countries and sectors. The companies are assessed on their track record of success, management and financials.

Emerging markets have become increasingly attractive as an investment opportunity as regions such as India, Asia and Africa expand their economies. Companies in these regions are expected to benefit from faster rates of organic growth in the coming five to ten years compared to those based in the developed world.

However, the emerging nature of the companies can also bring higher levels of volatility, which we believe through a disciplined and strategic investment approach enables the Fund to capitalise on this theme.

Led by Glen Finegan, who joined Henderson Global Investors in 2014 from First State Investments, Henderson’s Edinburgh-based emerging markets equities team of four (‘Team’) manages approximately $1 billion[1] for retail and institutional investors globally.

The Team was also recently awarded a $1.5 billion investment from a UK institutional client.

Rather than focusing solely on companies listed in emerging market countries the Team also researches and invests in companies with significant emerging market economies exposure regardless of listing domicile.

Glen Finegan, Henderson Head of Emerging Markets Equities said: “The organic growth rate of emerging markets compared to developed markets make them an attractive investment opportunity. We believe emerging markets are an important building block in global equity asset allocation.

“We take a long-term investment approach, asking ourselves if we have sufficient confidence in a company, and if we would be content to leave our money invested in it for the next five years,” Mr Finegan said.

Rob Adams, Henderson Executive Chairman Pan Asia said: “Henderson is committed to offering high-quality investment opportunities to the sophisticated Australian market. It is great to be bringing someone of Glen’s calibre to the Australian market with over 14 years’ experience investing in global and emerging markets.

“Early seeding by two institutional clients, superannuation fund BUSSQ and Victorian education body Deakin University, is a strong sign of the Australian investor appetite for a quality global emerging markets fund managed by a proven investment team,” Mr Adams said.

A minimum investment of $25,000 is required as an initial investment with a five-year time horizon, and is available to retail and institutional investors.

[1] As at 30 June 2016

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