The innovative agreement sees Smith & Williamson appoint BennBridge as the investment manager for both its Oriental Growth Fund and Far Eastern Income & Growth Fund (the ‘Funds’). In turn, both firms and lead manager, Jane Andrews, will take an equity stake in the newly-formed BambuBlack.
Jane Andrews will continue to manage both Funds, ensuring clients receive the same exemplary levels of service to which they are accustomed. Jane will soon be hiring analysts to strengthen her team and will also continue to provide Smith & Williamson colleagues with high-quality commentary and insight on Asian companies and markets.
Under the new arrangement, both Funds will retain the same names until further notice and Smith & Williamson Fund Administration Ltd will continue to act as Authorised Fund Manager and administrator from its Glasgow office.
Regulated by the FCA, BennBridge is 100% owned by its Australian parent, Bennelong Funds Management Group Pty Ltd (‘Bennelong’). Bennelong is a multi-boutique asset manager with circa GBP5.8 billion of assets under management. As part of a wider group with BennBridge, Bennelong currently partners with 10 boutiques.
Announcing the move, David Cobb, Co-Chief Executive and Head of Investment Management at Smith & Williamson, said: “Jane leaves the business with our very best wishes and our thanks for the excellent work she has done here over the last two decades. This exciting deal will open up vital new channels for both Smith & Williamson and BennBridge. We look forward to working closely with her and BennBridge in developing this new offering over the coming years, particularly in regard to Bennelong’s distribution infrastructure in Asia Pacific and the provision of Authorised Corporate Director and administration services to potential new fund vehicles.”
“Smith & Williamson’s Funds practice is an integral part of our business activities and one in which we continue to invest strategically. Our funds proposition offers access to exciting thematic opportunities, such as the Smith & Williamson Artificial Intelligence Fund. We are proud of our work in this space, which continues to be of critical importance to our clients and investment process.”
Craig Bingham, CEO at Bennelong, said: “We are delighted to welcome Jane into BennBridge – her experience in Asian Markets has spanned over two decades and she has enjoyed a successful track record over this period. BennBridge is focussed on partnering with high-calibre investment talent and will be building additional high performance focussed investment teams in the future, while increasing our global distribution footprint.”
Jane Andrews said: “I would like to thank my colleagues at Smith & Williamson for their support over the years and look forward to continuing our relationship in this new and exciting joint venture with BennBridge.”
For further information on Smith & Williamson, please contact:
0207 131 8726
0207 131 4597
0777 1978 220
For further information on BennBridge, please contact:
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice. Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.
Note to editors
Smith & Williamson is an independently-owned financial and professional services group. The firm is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices, entrepreneurs and mid-to-large corporates. The group’s c1,750 people operate from a network of twelve offices: London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.
For more information, please visit: https://www.smithandwilliamson.com.
BennBridge is a multi-boutique investment firm which strategically partners with specialist fund managers. BennBridge provides a structure that gives our boutiques the same quality support offered by large institutional firms, but enables them to operate in a more personalised and entrepreneurial environment. As a minority equity partner to each boutique, BennBridge offers access to a global distribution network and a wide range of high quality investors, while also providing a holistic range of non-investment functions, enabling each boutique to focus solely on their own investment performance for better client outcomes.
As a 100% owned subsidiary of Bennelong Funds Management Group (‘Bennelong’), a successful Australian based multi-boutique firm established in 2006 and currently managing GBP5.8 billion, BennBridge benefits from a powerful global distribution footprint and the ability to drive the scalability of our boutiques’ success.
For more information, please visit: https://www.bennbridge.com/.
Smith & Williamson Holdings Limited
Smith & Williamson LLP
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.
Smith & Williamson Investment Management LLP
Smith & Williamson Investment Management LLP is part of the Smith & Williamson group. Authorised and regulated by the Financial Conduct Authority
Smith & Williamson Investment Services Limited
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Smith & Williamson Fund Administration Limited
Authorised and regulated by the Financial Conduct Authority
The Financial Conduct Authority does not regulate all of the services referred to above.