A boutique founded by former Goldman Sachs equities investors is launching a new global equities fund.
Auscap Asset Management was co-founded in 2012 by Tim Carleton and Matthew Parker who were both executive directors at Goldman Sachs, responsible for managing Australian equities funds.
The boutique has run a long/short Aussie equities strategy.
It is now launching a global equities fund, after adding to its investment team in the recent months.
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The Auscap Global Equities Fund will hold 25 to 50 positions with the aim of delivering absolute return over the long term. The fees are 1.5375% of the net asset value of the fund and 15.375% of outperformance to the benchmark, subject to a high watermark.
The boutique hired Naveen Patney from Renaissance Asset Management where he was a portfolio manager/investment analyst.
It also recently hired from Perpetual Investment Management's global equities team. Josh Phillips had been at Perpetual since 2015 and now joins Auscap.