A NAB Asset Management-aligned boutique has appointed a senior member to its institutional distribution team.
Richard Close joins Antares Equities from Phillip Capital, where he was director - institutional equities. Prior to that, he was a senior advisor at Ord Minnett, executive general manager of investments at Australia China Capital Management and an institutional equities investment banking director with Credit Suisse.
He has also held roles at Citi, Deutsche Bank Securities, Schroders, BHP Billiton and Giant Resources.
"We're extremely pleased to have Richard join our institutional team. He brings a wealth of equities investment and institutional distribution experience to the firm, which makes him ideally suited to developing deeper partnerships and delivering superior investment solutions to the institutional market," Antares general manager Brendan Donohoe said.
"Antares Equities already has a strong presence in the retail market with our award-winning Australian equities investment strategies and we look forward to building a broader awareness of our institutional capabilities," Donohoe said.
Earlier in the year, Antares hit a milestone of $1 billion in funds under management across its separately managed accounts model portfolios. "We've been running SMAs now since 2009, and in the last few years we've really seen a significant increase in their popularity, particularly in the last 12 months where we've seen close to a third of our investors' money come in," Donohoe said at the time.
Antares Equities offers four SMAs, including an income-focused Antares Dividend Builder, the Core Opportunities Model Portfolio, the Listed Property Model Portfolio and the Ex-20 Australian Equities Model Portfolio.
"There is strong investor appetite for SMAs, and we will continue to build up our presence and product suite to ensure our strong market position,'' Donohoe added.