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Contango Income Generator Limited

Fund Manager: Contango Asset Management
Inception Date: Aug 01, 2015

Contango Asset Management will pursue growth in the retail and self-managed supermarkets as part of a restructure that saw the fund manager part with George Boubouras, its former managing director, last week. Marty Switzer, Contango's interim boss, said on Monday: "I think this change is all about repositioning the business to focus on the areas where we see the most growth potential in the listed investment space," specifying that "an area where we believe we've got a lot of strength is SMSF and retail". Chairman Roger Amos advised the market of the departure of Mr Boubouras on Friday. Mr Switzer is a Contango director as well as serving on the board of Switzer Asset Management, a business that is co-owned by Contango and the Switzer Financial Group. Switzer Asset Management is already planning to add an active fixed income product for retail investors. [More]

In funds management, where people and performance are everything, James Packer's latest deal is highly unusual. Mr Packer's $13 million investment in Contango Asset Management  demands that certain key staff at the Melbourne-based boutique accept that they will not be paid bonuses, and instead take equity stakes in the business.   It's a model that George Boubouras, the fund's chief investment officer who led the management buyout of of Contango that Mr Packer and his chief aide Rob Ranking have backed, hopes will serve as a template to better align the interests of staff, owners and clients.   He suspects they may be forced to do it anyway, as large institutions such as sovereign and pension funds demand changes to the way fund managers and their staff reward themselves. [More]

Contango AM announces management buyout

InvestorDaily - Jun 27, 2016

Contango chief investment officer and director George Boubouras said the buyout is the “first step in an exciting future” for the business. “The Contango Asset Management team is highly motivated to grow the business into one of Australia’s pre-eminent fund managers,” he said. “We look to the future success of the business with great enthusiasm and confidence.” Pacific Point Partners, an investment vehicle controlled by James Packer and Robert Rankin, will be a cornerstone investor in the sale, with a subscription of 19.9 per cent in the transaction. Contango Asset Management is responsible for a number of listed investment companies including Contango Income Generator (ASX: CIE), whose chair supports the transition. [More]

Contango Asset Management's investment chief George Boubouras has been hitting the pavement up the Paris end of Melbourne's Collins Street spruiking a new "nano-cap" fund. The fund is rumoured to be targeting $50 million to $100 million and is expected to be born as a spin-off to Contango's 12-year old listed microcap investment company. The pitch is understood to be all about finding a home for those tiny beauties Contango's team comes across. It's expected to seek out stocks with a sub-$30 million market capitalisation, which makes them too small for the existing microcap mandate.  It is not known yet whether the new nano-cap fund will be structured as the group's third listed investment company.    Contango launched its second LIC, the $71.5 million income generator fund, last year. It has been a busy 18 months for the former Equity Trustees and UBS Asset Management investment chief Boubouras since he joined Contango in December 2014.   [More]

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