Shaw and Partners refurbishes asset management unit, expands team

Shaw and Partners Financial Services' new-look asset management business has jumped in headcount with the addition of an investment director and two analysts while also expanding its investment menu as it ambitiously aims to exceed the $50 billion of assets it currently manages.

Targeting sophisticated and institutional investors, as well as family offices, the refurbished unit is led by chief investment officer Martin Crabb, who has been with the group since 2011.

Crabb told Financial Standard the new enterprise is a standalone asset management business that draws resources from other functions of the group, such as research and investments, which were previously operating under the financial services banner.

"We needed to invest in the asset management business because it has grown to become a substantial part of the group, dedicate more resources to it so it can have its own identity and set it up for future success," he said.

As part of the move, three new starters joined Crabb's team in July.

Julia Lee was recruited as an investment director after spending two years at FTSE Russell and head of client coverage for the Pacific. Wim Steemers was hired as a portfolio manager and Mohan Korber as an analyst.

They join existing team members head of income strategies Damien Williamson, senior investment analyst Maria Zapata and investment analyst Hansheng Zhang.

With more than $50 billion in funds under advice across Australia and New Zealand, about $3 billion of this sits in managed accounts.

Furthermore, the group launched four new multi-asset funds across moderately conservative, balanced, growth and high growth investment profiles, as well as a high-yield credit fund.

"The establishment of Shaw and Partners Asset Management gives us the opportunity to build on the investment expertise we already have across the business, while continuing to strengthen our team and broaden the range of investment options available to advisers and their clients," Crabb said.

"Our focus is on disciplined portfolio construction, active investment management and providing investors with access to professionally managed investments across different asset classes and market environments. The expanded team gives us greater depth across research, portfolio management and investment strategy as we continue to grow the business."

Shaw and Partners' adviser network comprises 220 authorised representatives.