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Lanyon lures talent ahead of $25m listing bid

Business

Adelaide-based equities investment manager Lanyon Asset Management is claiming a recruiting coup as it kicks off a $25 million capital raise ahead of listing a new fund on the ASX next month.

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Lanyon has lured investment analyst Nick Markiewicz from Sydney to manage its value-orientated Lanyon Global Fund and co-manage the Lanyon Investment Company Limited with managing director David Prescott.

The East End firm was established in 2009 and has previously managed unlisted funds.

Tomorrow it will open its offering, which aims to raise $25 million at an issue price of $5.00 per share during its September 28 to October 8 offer period.

Fellow Adelaide firm Argo Investments has successfully run out of South Australia for 75 years and is the nation’s second-largest LIC with a market capitalisation of $6.54 billion.

Lanyon Managing Director David Prescott will co-manage the Lanyon Investment Company portfolio.

In what it claims is an Australian first, the company has committed to reinvest 100 per cent of the after-tax value of all management and performance fees to purchase shares on market, should the company trade at a discount.

Markiewicz has relocated his family to Adelaide from Sydney where he spent five years with Platinum Asset Management as a global equity analyst in the top-performing consumer fund as well as having portfolio management responsibilities.

He also held positions at Morgan Stanley and Credit Suisse, where he was a top-ranked analyst covering Australian equities.

Among his new colleagues at Lanyon will be former Port Adelaide and Melbourne AFL player Jack Trengove who has been an Equities Analyst with the company since 2018.

Markiewicz said he was looking forward to working closely with Prescott, who shared a very similar investing approach.

“I was attracted to Lanyon by its strong long-term track record and am excited to be a part of a growing firm based in South Australia,” he said.

Prescott said Markiewicz’s strong track record in managing global equities, deep knowledge of consumer and industrial markets and philosophical alignment to Lanyon make him the ideal candidate to manage global equities in the ASX listed company and the Lanyon Global Value Fund.

He said Lanyon had been South Australia’s only equity fund management company for many years and would launch its listed offering on the back of strong performance from its Australian Value and Global Value funds.

“Investors will be buying into the same approach that has seen the Lanyon Australian Value Fund deliver an 11-year track record of outperformance,” Prescott said.

For the year ended June 30, 2021, the company says its Australian Value Fund delivered a return of 24.8 per cent after all fees, while holding more than 40 per cent of assets in cash.

The appointment of Markiewicz comes soon after Lanyon appointed a Head of Distribution and Investor Relations, Kasey Zinghini, to meet the needs of clients and to manage the firms controlled-growth agenda.

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