IML's Anton Tagliaferro to retire

Twenty-five years after founding Investors Mutual Ltd, Anton Tagliaferro, one of the country's most high-profile value-style fund managers will retire next year.

The investment director will remain as a consultant until June 2023 to ensure a smooth handover.

His retirement in March 2023 will coincide with the 25th anniversary of IML, which he founded in 1998 as a boutique, value-style equities fund manager.

Originally from Malta, Tagliaferro joined Prudential in 1986 before moving to Perpetual two years later.

At Perpetual, Anton managed the long-standing Industrial Share Fund and launched it in October 1989.

Earlier, he worked at BNP Investment Management and County Natwest Asset Management.

Commenting briefly on his decision, Tagliaferro said "I believe that now is the right time to hand over to the next generation at IML. I know I leave our clients in safe hands with every confidence in the team's ability to generate healthy returns moving forward."

In a letter sent to clients, he thanked them profusely for supporting IML through a very eventful 25 years.

"Without you, I would not have been given the opportunity to do what I was passionate about every day," he wrote.

In the letter, he said he had been planning his retirement with the IML leadership team for some time.

"Over the last ten years, the various IML portfolio managers have taken over the responsibility for the management of the majority of our client funds," he said.

"With my role having been to ensure funds continued to be managed with the same 'quality and value' approach to investing as from IML's inception in 1998."

Wednesday's announcement follows the resignation of Wayne McGauley, the longstanding head of retail at IML in April citing the need for change and a refocus on a better work/ life balance.

In 2017, Natixis Investment Managers acquired a majority stake in IML.

Three years later, Damon Hambly was appointed IML's chief executive having previously held the position of Natixis IM's local head.

Hambly thanked Tagliferro for his significant contribution to the fund manager.

"Under Anton's leadership, IML investors have benefited from the consistent and true-to-label 'quality and value' investment style that Anton has embedded into the business," he said.

"While in some ways it is the end of an era, we are pleased that Anton is handing over to an experienced team of investors who have all been working with him at IML for well over a decade."

IML's flagship fund, the Investors Mutual Australian Share Fund, has delivered above-benchmark returns with less volatility than the Australian share market since its inception, the firm added.