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Last Article Uploaded: Monday, January 24th, 1:30PM

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Forsyth Barr launches funds management business

Forsyth Barr has launched a specialist funds management operation, Octagon Asset Management, which will take over managing its KiwiSaver scheme.

Thursday, December 2nd 2021, 6:00AM

Neil Paviour-Smith.

The firm kicks off with $650 million of funds under management including Forsyth Barr's KiwiSaver scheme, Summer.

The Summer investment committee, which was headed by Martin Hawes, is being replaced by the Octagon team.

Forsyth Barr's move is similar to other sharebrokers who have created their own funds management business. Craigs IP has Quay Street Asset Management, while Jarden are the major shareholders in Harbour Asset Management.

Forsyth Barr managing director Neil Paviour-Smith says the launch of Octagon Asset Management signals their ambition to evolve and expand Forsyth Barr’s established funds management offering and deliver greater value to those who invest in these funds.

"Creating an independent asset management business will enable us to access new markets, attract new talent and deliver new fund and investment opportunities,” he says.

Octagon Asset Management will be led by the core Forsyth Barr funds management team including Craig Alexander, Jason Lindsay and Paul Robertshawe. Additional key roles have been filled, with further announcements due in early 2022.

‘We see real opportunity in both the wholesale and retail funds management spaces,” says Octagon Head of Equities, Jason Lindsay.

“Our senior portfolio managers have considerable experience working together and have successfully navigated many investment cycles. That experience is now focused on creating value for Octagon clients.”

Octagon Chief Investment Officer Paul Robertshawe highlighted a clear ambition in the wholesale funds market.

“Our goal is to provide a compelling proposition in the market. We believe there is an appetite for greater choice and new approaches. Octagon has been established to deliver exactly that.”

The continuity of key staff and partnerships provides the foundation from which the business will evolve, with the focus on delivering superior investment performance for both existing and new clients.

Octagon Asset Management commences fully-owned by Forsyth Barr but it is intended to include Octagon staff as shareholders. Forsyth Barr Investment Management Limited will continue to be the issuer of the newly named Octagon Investment Funds, with Octagon Asset Management the investment manager.

The Octagon team will initially be based in Wellington, Auckland and Dunedin. Richard Bodman has been appointed as an independent director. 

Tags: Forsyth Barr KiwiSaver Octagon Asset Management

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