PAC Capital takes down fund reports after AFR questions
PAC Capital, a Sydney-based fund manager that promotes itself as an expert in computer gaming, took down performance updates and other information from its website on Tuesday after The Australian Financial Review raised questions about some of its accuracy.
The LinkedIn profile of the company’s owner, Clayton Larcombe, was also taken down, as was a reference on the PAC Capital website to Mr Larcombe having a bachelor’s degree in applied economics from Sydney University.
PAC Capital owner Clayton Larcombe at a cafe near his offices on Macquarie street, Sydney, last week. Louise Kennerley
No such degree has been offered at the university in the last 23 years, according to a spokesman. Mr Larcombe was awarded a bachelor’s degree in agricultural economics at the age of 24, according to university records.
Mr Larcombe’s LinkedIn profile stated he was a share trader at Morgan Stanley in Hong Kong between 2009 and 2010. The Securities and Futures Commission of Hong Kong lists him as a licensed securities dealer at the investment bank from May 2011 to January 2012. The LinkedIn profile also stated he was a share trader at JPMorgan in Hong Kong in 2011 and 2012.
Hong Kong’s markets regulator does not show a record of him being licensed to work at JPMorgan, although it does say he worked for CLSA in 2010 and 2011. The Chinese-owned stockbroker was not mentioned in Mr Larcombe’s PAC Capital biography or his LinkedIn profile.
Morgan Stanley, JPMorgan and CLSA did not respond when asked about Mr Larcombe’s work history.
A spokesman for the Securities and Futures Commission said he could not comment on individual cases.
A former Brisbane financial adviser, Mr Larcombe has become a prominent figure in Sydney’s funds management industry
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