"We confirm that Ian McCallum will be joining Fullerton Fund Management in the new year as a portfolio manager," the company said.
However, the company did not elaborate on further details.
Fullerton Fund Management was incorporated December 2003. Prior to its establishment, Fullerton’s investment team operated as the internal fund management division within Temasek Holdings, managing its capital resources since 1989.
With expertise across all asset classes, including equities, fixed income, money market, currencies and alternatives, the firm has more than 20 years of experience in managing Asian and global mandates for institutional clients, as well as in mutual funds.
McCallum exits, Bedlam winds
London-based Bedlam recently said it was winding down its operations following McCallum’s departure as chief investment officer. The asset manager said this resulted in an automatic review both by large investors and by one consulting firm, whose clients account for over 40% of Bedlam’s assets.
"As a result of the change, that consultant revised the recommendation on Bedlam to sell. Many clients are not allowed to invest with managers with such a rating, whether warranted or not." Bedlam said on its website.
Resultantly, Bedlam expects considerable net outflow and delay in investment decisions by news clients, which may lead to "material fall in fee income with resultant losses at an unacceptable level."
The company said it has almost no chance of achieving a sustainable critical mass.
In June itself Bedlam had closed three of the six funds, which accounted for less than 2% of assets under the decision, in order "to focus the business better" and reduce headcount and other costs .
The liquidation of the rest of the funds will be completed by 15 November, while private client portfolios may be transferred to another company, the details of which will be provided shortly, the group said.
Established in 2002, Bedlam will close down once assets have been transferred.
