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Vanguard announces new CIO

Vanguard has announced Gregory Davis, principal and head of bond indexing in Vanguard’s Fixed Income Group, will assume the Chief Investment Officer role for the Asia Pacific region in 2013.

Davis, who has held a number of different investment roles during his 13-year career with Vanguard, currently has responsibility for managing in excess of US$240bn in bond index portfolios. He will relocate to Vanguard’s Australian head office in Melbourne where he will take over the regional CIO role from Joe Brennan, who is returning to a senior role in the investment team at Vanguard’s Pennsylvania headquarters.

Davis will lead Vanguard Australia’s team of 45 investment professionals responsible for managing a wide range of equity and fixed income portfolios for both Australian and Asian investors.

Forte opens Orange office

Boutique private wealth advisory firm Forte Private Wealth has announced the opening of a new office in Orange, NSW.

The office will service the broader central west with tailor made wealth management solutions and strategies.

“We are very excited about the new office, it’s the culmination of 30 years’ experience in the financial services industry in Sydney together with the founding Hill family originating from Blayney, NSW. We understand the local issues and have the ability to blend that with our best of breed advice platform,” said Forte MD Adam Hill.

Tim MacPhillamy, who has worked for Forte for the past 12 months, will be the head of the Orange office.

Forte and its associated companies manage over $1.4bn and currently provide advice to superannuation companies, government, foundations and family groups.

van Eyk awards three small cap managers its highest rating

van Eyk Research has awarded three funds its top rating in a new review of the small cap sector.

A total of 29 strategies were reviewed, and three were awarded the top AA rating. There were also eight As, nine BBs, and two Bs.

Five strategies were screened and two refused to be rated.

Separating the best managers from the rest were a stricter attention to stock valuation, superior knowledge of the small sector and individual stocks and an intimate understanding of what causes a stock to re-rate, which is central to successful small caps investing, said van Eyk.

Lead analyst on the review, Varun Venkatraman, said it was a strong field. All the strategies reviewed outperformed the S&P/ASX Small Ordinaries index over a one to five-year time frame.

The AA-rated managers also all outperformed the S&P/ASX200 over the same time frame.

“It’s a highly competitive peer group, much more so than the large cap sector” said Venkatraman. “It reinforces our belief that over the long term there is good potential for these managers to generate excess returns for investors.”


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