A global equities boutique launched by a Franklin Templeton veteran is getting ready to pitch two new Aussie-domiciled funds to private wealth firms and wholesale clients down under.
Bahamas-based Holowesko Partners is aiming to launch in the next two months local versions of its long/short global equities fund, which has been running since 2001 and a long-only equities fund, which has been running since 2004.
Both funds are managed with a value focus and are benchmark agnostic.
The portfolio managers are Mark Holowesko and Sean Farrington who left Franklin Templeton around 2000 to set up their own shop. They are supported by a team of five analysts.
In Australia, Holowesko has partnered with Eleuthera Investments, a distribution firm founded by Warakirri Asset Management's former head of investor relations and product development Andrew Nolan. Prior to this, he worked for Wellington Management in Boston.
Nolan partnered with Eleuthera in July 2018, a few months after leaving Warakirri after eight and a half years and obtaining the Australian financial services licence for his new firm. Holowesko is currently the firm's only client.
It is still working through the performance fee structure of the Australian funds but says the management fees will likely be 75 bps per annum for the long only fund and 125 bps for the long/short fund.
Holowesko Partners is owned by staff but Franklin Resources (Franklin Templeton's parent company) has a stake.
It has raised US $4 billion so far. Nearly half of the externally-sourced assets are from Australian investors, where it manages money for a few superannuation funds.