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Gareth Morgan to enter wholesale funds management
Philip Macalister, Friday, 15 May 2009 00:00
Outspoken KiwiSaver fund manager Gareth Morgan and outgoing TradeMe business manager Mike O'Donnell plan to enter wholesale fund management. Morgan's fairly unstructured approach has been successful in his retail and KiwiSaver funds, and it will b e interesting to see whether he can achieve this in the wholesale side, said Mark Weaver, an actuary at Melville Jessup Weaver."I think it will be good for the industry which has undergone a huge change," Weaver said.
With very little information about the new fund, including what it will be called, it's too early to predict what Morgan has planned, but investors and competitors alike will be watching this space.
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