RESEARCH UPDATE: Research IP flags the significant changes to the QuayStreet New Zealand Equity Fund investment team and ownership. QuayStreet Asset Management was recently acquired by Smartshares Limited, with the acquisition and transition of the team due to be completed by 23rd February 2023. Portfolio Manager, Andrew South, will be leaving the business on 23rd February 2023. The fund is actively managed, which has not been Smartshares’ core business until the QuayStreet acquisition. We acknowledge Stuart Miller (CIO) had a long track record in managing active fund managers, previously at ANZ. The Research IP rating on the QuayStreet New Zealand Equity Fund has been removed.
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