Glass, Cvetanovski depart Pengana

Steven Glass and CIO Jordan Cvetanovski, portfolio managers for Pengana International Equities, have departed the business.

Glass, a co-founder of the international equities strategies business in 2015, was responsible for investment analysis, managing analysts, and marketing the fund. He started with Pengana's Australian Equities fund in 2014. He previously was a portfolio manager at Hunter Hall Investment Management and an equities analyst at Tricom Equities. He started his career as an investment analyst with Platinum Asset Management.

In a statement on the ASX, Pengana announced that James McDonald will serve as interim Chief Investment Officer and that Cvetanovski and Glass have departed the business immediately.

In a joint response, Cvetanovski and Glass wished Pengana, its staff, and customers all the best, including McDonald in his new role. They also noted that the pair, "have delivered market-leading performance. That performance is publicly available and need not be restated here.

"Jordan and Steven have no intention to, and will not disturb existing client relationships of International Equity Strategy funds. They are confident that with their individual track records of success they will enjoy new opportunities." While they did not announce new roles, Glass and Cvetanovski indicated that a further announcement will be made in due course.