5 questions for the new owners of Castle Point

Tim Chesterfield is the long-time CIO of the Perpetual Guardian Group and the founding CIO and Director of its investment management business, PG Investments. This year, in line with its strategy to continue to grow organically and by acquisition, the Group has made two key purchases, first buying the Private Wealth division of Trustees Executors Limited in February, and in June acquiring Castle Point Funds Management Limited and its more than $300 million in funds under management.

The acquisitions mean Chesterfield is at the helm of the investment wing of a Group with $2.6 billion in funds under management, and $8 billion in total assets under management – and he is more focused than ever on what is required to maintain PG Investments’ excellent track record and further hone the offer to investors, including this year’s new entrants.

Tell us about your career and experience in both wholesale/institutional and retail investment management?
I began my now nearly 35-year career as a global equity investor in institutional investment out of London. I migrated from European to US equity investment and then moved to Australia in 2006 to spearhead the US investment portfolio of QBE Insurance, where I managed US$1.5 billion of US equities and led a global equity team overseeing more than A$5 billion.

In 2011 I moved away from institutional investment management and into retail, because I found I wanted to achieve real, long-term outcomes for individuals, and see how my efforts translated into improving other people’s financial situations. It is a different level of accountability than the black box, P&L focus of institutional investment.