Harbour signs up global equity manager
Harbour Asset Management has partnered with Baltimore-based global asset manager T. Rowe Price to bring a wholesale global equity PIE fund to New Zealand.
Monday, February 23rd 2015, 2:01PM
Managing director Andrew Bascand said: “In searching for an appropriate global equity manager to partner with, we sought a manager with a strong track record, high quality people, a research edge and a philosophical alignment with Harbour.”
T. Rowe Price was established in 1937 and manages US$746.8 billion in assets.
It has offices around the world including in Hong Kong, London, Sydney and Tokyo.
The T. Rowe Price Global Equity Growth Fund aims to out-outperform its MSCI All Country World Index benchmark over the medium to long-term. The fund is a growth- oriented portfolio consisting of around 130 stocks, with a natural bias towards emerging market stocks, where typically around 15% of the portfolio will be held.
Given its diversification and risk parameters Harbour said it would envisage this Fund being a core component of investors’ global equity allocations.
Chief operating officer and head of client servicing Jody Kaye said: “To support the launch of the Fund, we have appointed Kendal Law as Director, Head of Sales at Harbour. Kendal will be focusing on providing investment and marketing support for the Fund with consultants, trustees and wholesale investors in NZ.”
Law l has over 17 years’ experience with global investment banks providing equity analyst, research sales and account management expertise
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