Fund manager expands after business doubles

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Grant Samuel Funds Management has opened a representative office in Brisbane and made a new appointment in Sydney, after business demand doubled over the past year.

Damien McIntyre, director and head of distribution at Grant Samuel, told Wealth Professional a person was needed on the ground in Queensland to cover business demand due a significant increase in interest for all of its partner funds.

These were across international equities, small caps and absolute return fixed income throughout the year.

“Queensland is estimated to represent 20% of the retail market for financial planner or dealer groups and we felt it required a dedicated business development manager,” McIntyre said.

Steven Taylor, who has almost 20 years’ experience in the industry, has been appointed state manager for Queensland and will head up the Brisbane office.

He will focus on developing Grant Samuel’s client base in greater Brisbane and Far North Queensland.

The second appointment is due to increased business demand in New South Wales, which accounts for around 35% of all financial planners in Australia. Shaun Thomas has been hired as a key account manager, based in Sydney.

Thomas was last at Australian Unity Investments and has over 10 years’ experience in business development. He has held a number of senior business development roles at Australian Unity Investments, HSBC Global Investments and Macquarie Investment Management.

Grant Samuel also opened a representative office in Perth, 12 months ago.

Each representative office will have at least one full time Grant Samuel employee based there, to manage relationships with the financial planning industry.

McIntyre said the increased business came after Grant Samuel saw a gap in the Australian market “to provide retirees with consistent dividend income”, so five years ago the company set up Epoch’s Global Equity Shareholder Yield Fund as the only global equity fund focused on providing quarterly dividend income to investors.

The company is also involved with New York-based Tribeca's small cap strategy and LA-based Payden & Rygel’s Global Income Opportunities Fund.
 
 

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