Rabo's fund man follows the money

The head of Rabo's managed fund business has followed the $100 million transferred to the platform's new owner.

Monday, April 2nd 2018, 8:23PM

Rabobank’s Michael Courtney is moving to InvestNow owner Implemented Investment Solutions (IIS) later this month and will take up the position of Head of Fund Hosting.

IIS bought the Rabobank business recently and around $100 million of the funds invested with the bank's managed fund business has shifted to InvestNow.

IIS managing director Anthony Edmonds says that represents around 90% of the money invested via Rabobank.

Courtney will be primarily responsible for managing IIS’s growing group of fund hosting clients.

“When we started IIS in 2011 we worked exclusively with US-headquartered Russell Investments” Edmonds says. “Since 2016 we have added more managers to the stable including: Hunter Investment Management (which invests with high-profile international fixed interest specialist PIMCO); Australian listed property fund, APN; and, our latest partner, the multi-brand global investment giant, Legg Mason. Michael’s role will be to manage these key relationships.”

Courtney, who has a CFA, sees plenty of scope to add value in expanding IIS’s multiple business lines.

Tags: Implemented Investment Solutions InvestNow RaboDirect