Supervised Investments' chief executive Michael Ohlsson has resigned following a decision by the fund manager to pull out of global debt markets.
In a statement to Financial Standard, Ohlsson said Supervised Investments Australia Limited (SIAL) has decided to discontinue managing assets in the global debt markets to focus on international equities.
As a consequence, Ohlsson confirmed he tendered his resignation from the lead role on April 30.
"The resizing of the business prompted my decision to step back from a full-time commitment to SIAL ... but at the board's invitation I will be continuing as a part-time consultant," Ohlsson said.
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Ohlsson joined SIAL in November 2016 and was named chief executive in January 2017.
In the years prior he founded and led InvestCap and spent three years as chief executive of Tibra Investment Management.
From 2004 to 2007 he served as chief executive and managing director of Fidelity Investments Australia. He had previously spent nine years at Barclays Global Investors, holding the role of director, institutional business and director, adviser services.
Last month Equity Trustees, as responsible entity, announced SIAL would retire as investment manager of the Supervised Global Income Fund and be replaced by Sanlam Private Wealth on July 1. The fund will be renamed the SPW Global Income Fund.
SIAL will instead concentrate its efforts and resources on managing its flagship equities fund, the Supervised Fund, Ohlsson said.
"SPW is a leading wealth manager with a growing presence in Australia and is part of the multi-national financial services provider Sanlam Limited," Equity Trustees said.
"This new setup will provide the fund with a robust framework within which to continue to successfully meet the fund's investment objectives, generate market-leading performance, and grow fund assets."
There will be no changes to the fund's investment strategy or the team managing the portfolio, Equity Trustees added.
It will continue to be managed by Phil Carden and Carden Treasury Corporation as sub-investment manager.