T. Rowe Price has recruited Viral Patel for a new role in the company’s Australian equities team, while plans are already underway to hire another three equity analysts for the Sydney office.
Patel, who was a research analyst with Alliance Bernstein's Sydney office, has been appointed to the new role of associate director of research for Australia.
He will report to portfolio manager, Randal Jenneke, who was hired last June with the task of piecing together the equity investment management and research team.
The company stated that enhancing its local investment capability would enable it to launch a differentiated Australian strategy for local and regional investors.
The industry fund has upped its investment in start-ups, helping to unlock the benefits of innovation and emerging technologies.
The chair of the Future Fund has slammed critics of the sovereign wealth’s new mandate as “factually incorrect”.
Super Review understands the Division 296 legislation could be facing the chopping block, with Labor said to be struggling to secure support ahead of the final sitting week of the year.
Deloitte Access Economics has raised concerns about the government’s recent changes to the Future Fund’s investment mandate, questioning the necessity and implications of the reforms.