More changes in fund research market
Thursday, December 19th 2019, 3:20PM
Zenith Investment Partners, which bought research house FundSource, has had a major shake up.
Venture capital company Five V Capital invested into the business, however the size of its investment and shareholding has not been disclosed.
As a result partners David Smythe, who was handling much of the company's activity in New Zealand, and Glen Franklin have left the business.
Managing partner David Wright will continue on with Zenith and retain his shareholding, transitioning into the chief executive role.
"David Smythe and Glen Franklin have taken the opportunity to exit the business to pursue other interests, after an agreed period of transition of their current duties."
Earlier this year Research IP, which had provided the research underlying FundSource's business teamed up with Good Returns to offer managed fund research in the New Zealand market.
The Good Returns Fund Manager of the Year awards can be found here.
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