Magellan senior analyst pops up at rival global equity manager

afr.com:

There’s a new face at Perennial Partner’s Fairlight Asset Management.

Nick Cregan’s Fairlight Asset Management is carving out a space in global small and mid caps. James Brickwood

Former Magellan Financial senior investment analyst Abbey Cook has joined the Sydney-based boutique global equity manager as its newest portfolio manager, with oversight over the global small and mid-cap fund.

Cook left Magellan after almost four years in November. There she attempted to bring the Magellan global long/short fund to life. The strategy never made it to the public after incoming chief executive David George decided to shut down the nascent research area and focus resources on the flagship global equity strategies.

Cook’s 20 years managing listed equities also includes stints at the Perpetual global equity fund, Wavestone Capital and her brother-in-law Rob Luciano’s VGI Partners, where she helped establish the business and create its investment process. She jumped to the buy-side from emerging companies’ research at JPMorgan in 2007.

The employee-owned firm was founded in 2018 by ex-Evans and Partners portfolio manager Nick Cregan and has grown to a team of six investment professionals with almost $1 billion in assets under management. Perennial executive director Anthony Patterson and general counsel and company secretary Bill Anastasopoulos are also registered as company directors.

Fairlight’s global small and mid-cap fund returned 24.8 per cent in the year to 30 June, outperforming its benchmark by 8.2 per cent. Key stock picks include German online marketplace Scout24 SE, US-based auctioneer website for repairable and wholesale vehicles Copart and maker of hot melt glue dispensing equipment Nordson.

Other Magellan alumni making