Milford Asset Management (Milford) is pleased to announce that Bryce Marsden is joining the company as its Chief Operating Officer. This position has been newly created within the firm as Milford reinvests back into its business during a period of strong growth in its funds under management.
Bryce joins Milford from BT Funds Management where he was Head of Wealth Operations. He is a very experienced funds management professional, having been at BT Funds Management for over 13 years in various senior roles. He will be responsible for the administrative, compliance, accounting and technology functions at Milford. He will also have input into Milford’s strategic planning and retail product management.
In commenting on the appointment Anthony Quirk, Milford Executive Director, stated: “we are delighted that Bryce has joined our firm as he will make a strong contribution in many areas of the business. The appointment reconfirms Milford’s commitment to reinvest into its business to ensure we offer top quality investment performance and service to our clients. Milford has excellent people, processes and systems in place to achieve this and Bryce will provide additional impetus in this area as we look to grow further after a very strong rise in our funds under management in 2009.”
Milford currently has over $400m of funds under management, up 67% from the same time last year. Funds growth has been strong across all areas of its business including:
– The Milford Aggressive Fund, which is one of New Zealand’s fastest growing unit trusts and is now a $70m fund. The Aggressive Fund has achieved a 32.2% return to 31 December 2009 (after fees and before tax) since its launch as a tax efficient Portfolio Investment Entity (PIE) on 1 October 2007. This compares with a fall in the New Zealand sharemarket (NZX 50 Gross Index) of 24.6% in that period. This fund is managed by Brian Gaynor, supported by the very experienced members of the Milford investment committee.
– Milford’s KiwiSaver offering (the AonSaver AMT Milford KiwiSaver Aggressive Fund) has the same investment portfolio and has therefore enjoyed the same excellent returns making it one of the top performing funds in the market since KiwiSaver started. This is another area of strong growth for Milford.
– Balanced investment portfolios managed for individuals, family and charitable trusts and company superannuation schemes. Milford’s avoidance of finance company debentures, mortgage funds, unlisted property funds and CDO based products has contributed to the investment returns in this area as well as helping to generate strong new levels of business.
– Wholesale New Zealand or Australasian equity mandates. Milford’s strong domestic equity team, investment process and performance have contributed to a significant lift in funds under management in this segment.
Contact Anthony Quirk,
Milford Asset Management
09 921 4702 or 021 223 4591
Milford was founded in December 2003. It is a specialist investment management company with its Executive Directors being Brian Gaynor, Anthony Quirk, Graeme Thomas and Alan Moore. It provides individually managed portfolios for a range of clients including individuals, family trusts and charitable trusts. Milford launched three PIE-compliant managed funds on 1 October 2007, two of these being unit trusts (the Milford Aggressive and Peak Funds) and one being a KiwiSaver product (the Aon Milford Aggressive KiwiSaver Fund). It also manages wholesale Australasian equity mandates for large investors.