NAB continues asset management strategy by partnering with new talent at Intermede
NAB Asset Management today announced Intermede Investment Partners (Intermede) has joined its growing stable of boutique investment managers.
Intermede is an active global equities fund manager with a focus on investing in listed mid and large capitalisation companies.
The partnership continues NAB Asset Management’s strategy of progressing growth across internal channels and investing in quality partners via minority, majority or whole stakes. These partners along with internal capability service funds under management, advice and administration of around $178 billion across a wide range of asset classes.
The new partnership with Intermede brings the total number of NAB Asset Management investment boutiques to 14.
Garry Mulcahy, Executive General Manager of NAB Asset Management said: “Our institutional clients are always on the lookout for high quality managers with capacity in this important asset class and the partnership with Intermede will deliver this.”
“This partnership continues our strategy of identifying and partnering with the best fund managers from around the world.”
Barry Dargan, Chief Executive Officer of Intermede said: “We are really pleased to be partnering with one of Australia’s largest financial institutions to provide us the support to grow our business.”
“With commitments from institutional investors of over $1 billion, we are looking forward to focusing on doing what we do best – managing a single strategy, global equities. We see the global equity environment as a great market in which to add value for our clients.”
Prior to establishing Intermede, Barry Dargan was a partner at Artisan Partners where he established their London office and founded, lead managed and was sole decision maker on their global equity strategy, which had top decile performance during his tenure.
He also spent 14 years as Managing Director and Portfolio Manager at MFS, managing the MFS International Growth Fund and was co-manager of the MFS Global Growth Fund, with combined funds under management of approximately US$6 billion.
About NAB Asset Management
NAB Asset Management partners with its clients and some of the best investment talent from around the world to achieve superior outcomes for institutional and retail clients in both domestic and global markets. NAB Asset Management has 14 investment boutiques, covering every major asset class.
Recently founded, Intermede Investment Partners Ltd is an institutional global equity fund manager focused on a single strategy, global equity, using its proprietary investment process with the aim of delivering outstanding returns to clients. The Intermede investment team consists of experienced professionals with an average of more than 14 years’ investment experience, and includes Chris Smith, Nicholas Midgley, James Kim and Charles Cooper as investment professionals, and Darren Cannon as Chief Operating Officer. Intermede is majority owned by the investment management team, with NAB the remaining shareholder.