Active manager (sort of) leaves the passive house

As reported earlier QuayStreet’s management is being “externalised” effectively separating it from the Smart business.

The fund manager will be run by a newly established, and independently owned entity, QuayStreet Group.

“The new structure allows QuayStreet to grow its customer base and for Smart and NZX to benefit from its future success. The parties have entered into a long-term partnership that they believe benefits QuayStreet clients and NZX shareholders,” NZX says in a statement.

QuayStreet Group will be run and operated independently of Smart by the existing QuayStreet investment team, led by Head of International Equities, Stefan Stevanovic.