Platypus distribution director departs

The distribution director at Platypus Asset Management has left for a role at Fidante as the former reviews its distribution options.

Mark Hearne was responsible for Platypus' institutional, family office and private wealth sales for two-and-a-half years. At Fidante Partners he will be a national key account manager.

"Platypus is considering a number of options and is working with Australian Unity to assess the business' distribution arrangements," a spokesperson for the boutique said.

Hearne has worked at AMP Capital, Perpetual and Zurich financial services in account management roles and with different financial advice firms and dealer groups.

Fidante Partners declined to expand on Hearne's new role. Fidante is expected to launch active fixed income ETFs from its boutique managers before year end.

Separately, the Platypus Australian Equities Fund recently received an upgrade to 'Recommended' from Lonsec Research.

For the year to 30 September 2018, the fund produced a return of 26.69% (wholesale units) outperforming its benchmark, the S&P/ASX 300 accumulation index, by 12.66% after fees and expenses.

Lonsec said Platypus's fund has a persistent growth style, concentrated approach, and small-mid cap bias. It also highlighted the cohesion of the management team and the competitiveness of the fund's reduced management fee.

Platypus has $2.2 billion in funds under management. It also manages a low-cost systematic fund which produced a return of 19.18% for the year to 30 September, against its benchmark the S&P/ASX 300 accumulation index of 14.03%. The Systematic Growth Fund retained its 'Recommended' rating from Lonsec.

Read more: LonsecASXFidante PartnersPlatypus Asset ManagementS&PAustralian UnityMark HearnePlatypus Australian Equities FundZurich
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