Three PMs exit Montgomery IM

Montgomery Investment Management has confirmed the departures of portfolio managers Joseph Kim, Andreas Lundberg and Stuart Jackson.

Kim also served as the head of fundamental research.

The departures follow a partnership between Montgomery Investments and Australian Eagle Asset Management.

The sub-investment management deal will see an Eagle team manage Montgomery IM's Australian domestic large-cap equities fund.

Before his four-year stint with Montgomery, Kim was a senior analyst at Colonial First State Global Asset Management.

Earlier, he worked for Ellerston Capital and JP Morgan as a resources analyst.

For his part, Jackson spent 19 years at JP Morgan, most recently as an executive director.

The last of the trio, Lundberg joined Montgomery in 2017 from Alinta Energy where he spent three years as a strategy and planning manager.

Previous positions include associate director corporate at Singapore's DBN - a leading bank within the shipping, offshore and energy sectors -and energy analyst at Fidelity covering Asia.

Montgomery chair Roger Montgomery said as the firm grows toward a partnership model offering clients more investment choices, some roles have become redundant.

"Departing individuals, however, leave with our full support and gratitude as well as public acknowledgement of their meaningful contribution to the performance of The Montgomery Fund over recent years," he added.

The firm will be joined by Australian Eagle's investment team which is headed up by Sean Sequeira and senior portfolio manager Alan Kwan.

They have been with the firm for 17 years and 11 years, respectively.

Montgomery also plans to expand its partnership by introducing new products, including a long-short option.

The firm's chair said the Australian Eagle team has a strong track record of outperforming the market by following a quality-and valuation-focused investment approach that is closely aligned with Montgomery.

"Until now, Australian Eagle's long-only strategy has only been available to institutional and some separately managed account clients, so we are excited to have Australian Eagle bring this capability to a portfolio for a retail trust structure in the Australian market.

"The partnership delivers on our strategy to form alliances with leading managers in Australia and overseas to offer clients more investment choices amid changing market conditions."

Sequeira said Eagle is a great fit with Montgomery.

"Montgomery enjoys deep investor and industry relationships, expertise in managing funds, which are available to retail investors and a trusted brand that has been well-earned through its long-term focus on meeting client's needs," he said.

The partnership is the fourth for Montgomery.

It has the Montgomery Lucent joint venture for Aussie small caps, a distribution relationship with Polen Capital for global equities, and another with Aura Group for alternative income.