Abrdn portfolio manager pops up at Perpetual

afr.com:

The fallout from the abrdn Australia restructure continues.

Street Talk can reveal the firm’s deputy head of Australian equities, Natalie Tam, has jumped ship to Perpetual, ending more than 18 years with the global investment manager. Sources said she started with Pereptual Private’s direct equities on Monday as its newest portfolio manager, overseeing around $5 billion of Australian equities held by high net worth, sophisticated and charitable foundation clients.

Natalie Tam started out as a media analyst when News Corp was the biggest stock on the ASX. Louie Douvis

Tam’s appointment comes six months after abrdn inked a partnership deal with SG Hiscock to transfer management of domestic equities funds and wholesale distribution functionality, sparking chatter that the firm was preparing to exit the Australian market entirely (which then-managing director Brett Jollie rejected). The rumours were fuelled by the closure of at least three global equities and credit funds.

The restructure also saw MSC Trustees assume trusteeship and responsible entity duties for the abrdn funds.

Jollie announced his departure earlier this month, confirming it had been a planned exit since December. Abrdn head of Australian equities Michelle Lopez is also out after 18 years, handing the reins to Tam earlier this year, while investment manager Camille Simeon headed for BHP.

Tam began her career on the buy side at Deutsche Bank as a media analyst, before entering Aberdeen Standard Investments – now abrdn – as an investment manager in 2005.

There, she was elevated to lead portfolio manager for the abrdn Sustainable Australian Equity fund and the abrdn Australian Small Companies Fund, overseeing around $1 billion in funds under management.

Tam