Perpetual Guardian Expands with Acquisition of Castle Point

Highlights:

• Strategic Acquisition: Perpetual Guardian Limited has acquired Castle Point Funds Management, adding over NZ$300 million in funds under management.
• Experienced Leadership: CIO Tim Chesterfield, with nearly 35 years of experience, leads the expanded investment strategy focused on disciplined, long-term asset allocation.
• Enhanced Investment Options: PG Investments introduces new funds, including a global alternatives fund with BlackRock and an Income Opportunities Fund, offering diversified investment strategies.

Acquisition and Strategic Growth

Perpetual Guardian Limited has recently acquired boutique fund manager Castle Point, following its earlier purchase of the Private Wealth division of Trustees Executors Limited. This acquisition is part of Perpetual Guardian’s strategy to grow both organically and through acquisitions. Chief Investment Officer Tim Chesterfield, a seasoned professional with extensive experience in both institutional and retail investment management, is steering this expansion.

Chesterfield’s Background and Vision

Tim Chesterfield, the founding CIO and Director of PG Investments, brings nearly 35 years of experience in global equity investment. He began his career in London and later moved to Australia, managing significant equity portfolios. His shift to retail investment was driven by a desire to impact individuals’ financial situations directly. Joining Perpetual Guardian in 2014, Chesterfield has emphasized a disciplined, long-term approach to asset allocation.

PG Investments’ Core Services and Performance

PG Investments offers innovative investment strategies, combining high conviction investments for growth and index investments for stability. The High Conviction Fund, launched in 2016, has delivered impressive returns, averaging over 12% per annum over five years. Recently, PG Investments introduced two new funds: a global alternatives fund in partnership with BlackRock, and an Income Opportunities Fund. These funds enhance their core satellite approach, providing flexible investment options.

Impact of the Castle Point Acquisition

The acquisition of Castle Point aims to leverage the combined strengths of both teams, enhancing investment management capabilities. Castle Point investors will benefit from PG Investments’ disciplined strategy, designed to stabilize and improve returns. The integration of both teams is expected to bring greater depth and expertise to their clients.

Commitment to ESG Principles

PG Investments and Castle Point share similar ESG philosophies, focusing on responsible investment practices. PG Investments incorporates the Transition Pathway Initiative (TPI) framework into its Australasian funds, and this approach will extend to Castle Point’s funds, enhancing their ESG commitments.

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