Australian-based specialist income manager Wheelhouse Partners (Wheelhouse) today completed its transition to its new independent structure following recently agreed terms for its executives to acquire Bennelong Funds Management’s stake in its business. 

The revised structure includes a new co-investor in Wheelhouse, Alan Howard. Mr Howard is a co-founder of Brevan Howard Asset Management LLP, the UK hedge fund where Wheelhouse trader Andrew MacLeod and chief information officer Sam Jacob worked for many years across several markets. Mr Howard replaces Bennelong in the capital structure of the business. 

Managing Director of Wheelhouse, Alastair MacLeod, said Mr Howard’s investment represents a tremendous vote of confidence for the business which began operating under Bennelong’s structure over three years ago. 

“While volatile market conditions have played to our strengths, we remain steadfastly committed to the core objectives on which Wheelhouse is founded; to generate a reliable, consistent income stream whilst preserving investor capital from market downturns,” MacLeod said. 

“For the first time in decades, investors are facing falling dividends, fewer traditional income yielding options and inflated asset prices across the board, which is transferring more risk to capital bases. 

“Our global strategy seeks to address these concerns, targeting a high-income yield whilst safeguarding our investors’ capital. 

“The time is right for a differentiated investment approach and we are excited to be in a position to invest in our business and create solutions for investors to help navigate this challenging environment.” 

The MacLeod brothers are based at Wheelhouse’s headquarters in Brisbane, while Sam is based in Sydney. 

The team will be supported by recently appointed Chief Operating Officer Tony Hammond, well known in Australia’s funds management industry for his stewardship of fast-growing boutique investment managers. 

Hamel Strategic Partners will head up distribution efforts for Wheelhouse, led by Andrew Aitken, the former Head of Distribution at Bennelong, and Cameron Dickman, formerly Head of Distribution at AMG and Australian Unity. 

The Trust Company (RE Services) Limited (Perpetual) is now the Responsible Entity for the Wheelhouse Global Equity Income Fund. 

The team has completed extensive testing of an Australian equities focused fund, applying the same rules-based and disciplined derivatives strategy to that of its flagship global fund, however over an index of Australian listed securities. The local fund is expected to be rolled out to Australian retail and wholesale investors later this year. 

 

Notes

Wheelhouse Partners is an established Australian investment manager that targets income generation and capital preservation by applying systematic derivative overlays to a global equity portfolio. Its flagship fund, the Wheelhouse Global Equity Income Fund, has generated 7.01% for the 12 months to June, demonstrating the team’s ability to deliver a genuine defensive equity return with high income generation. Wheelhouse commenced investment operations in 2017.

 

Further information

Queries regarding Wheelhouse Partners can be directed to:
Emma Cullen-Ward at OneProfile Communications, 0414 989 137 or [email protected]