Alex Waislitz and Ex-UBS executive Christian Baylis to launch Fortlake Asset Management in partnership with Fund Income
Sydney, 9 November 2020 – Former UBS senior executive, Christian Baylis and Alex Waislitz are joining forces to launch a new funds management business, Fortlake Asset Management, targeting institutions and retail investors with a range of fixed income funds. Fund Income, the fund incubation business, wholly owned by Cashwerkz (CWZ), through Trustees Australia Limited (TAL) will launch Fortlake Asset Management.
Fortlake Asset Management will be supported by J.P. Morgan, Tactical Global Management Limited (TGM) and Link Fund Solutions, amongst others, as we deliver a range of fixed income funds to market both within Australia and internationally.
Jon Lechte, Non-Executive Director of Fortlake and CEO of CWZ said “We are delighted to bring the Fortlake Asset Management business to market, our first fund within the Fund Income business. The quality of the people within the business and the partners to the business, is a great example of the high standards we have within Fund Income.”
Lechte continues “Over time Fortlake and the Bond Income business will have some shared capability and synergy, Dr Baylis delivers the opportunity for collaboration with the best market insight and expertise to also provide Individually Managed Accounts (IMAs).”
Dr Baylis is a highly regarded Australian-based fixed income manager with broad experience across global fixed income and derivatives strategies, having worked previously at UBS Asset Management, the Reserve Bank of Australia (RBA) and Standard and Poor’s.
He said “We have selected a very strong team of leaders in the industry, board members and advisers planning to hit the ground running and attract funds to be managed by Fortlake Asset Management.
“The volatility of the share market has led many investors to seek stable alternatives for capital that offer good returns after inflation through sophisticated management in the fixed income market”, he added.
Alex Waislitz stated “we are excited by the opportunity to be working with Christian and his team. He is a best in class manager with a clearly demonstrable track record. In the current low interest rate environment, the performance of a fixed income manager is more important than ever.”
Dr Peter Higgs, TGM Executive Chairman and Chairman of Fortlake Asset Management said, “We are excited to be working with Christian and very pleased to be a foundational Partner with Fortlake. TGM and Fortlake share many complimentary skill sets and share a kindred philosophical approach to clients in the way we approach their objectives and aspirations. We believe the combination of these capabilities particularly in the institutional asset management arena and beyond will provide clients with unique fixed income solutions and capabilities which would otherwise be difficult to replicate.”
Overview
Fortlake Asset Management combines an experienced Fixed Income Manager offering institutional capabilities in a boutique structure, with a focus on generating returns above inflation. Fortlake will offer a holistic view to fixed income investment management by incorporating a variety of specialised techniques and strategies to deliver diversified returns.
Institutional Grade Support
Institutional grade support from J.P. Morgan and TGM. Specifically, J.P. Morgan will be providing services, including but not limited to clearing, custodial and financial markets access. Fortlake Asset Management has launched a new fully functional client facing website where customers will be able to subscribe for insights and submit applications for funds at www.fortlakestg.wpengine.com.
Fortlake Asset Management Team
Our team of highly-regarded, qualified and experienced investment professionals deliver world-class fixed income solutions to our valued clients. Operating within a boutique structure allows the team to be flexible, adaptable, and focused to deliver bespoke investment solutions to suit clients’ needs.
Fortlake Asset Management provides investors with access to knowledge, awarded expertise, world class infrastructure and the investment methodology and process of a portfolio management team with a strong track record of outstanding performance.
Fortlake Asset Management – Board of Directors
• Dr Peter Higgs – Chairman
• Dr Christian Baylis – Managing Director
• Alex Waislitz or Martin Casey (Thorney) – Major Shareholder & Non-Executive Director
• Dr Kylie-Anne Richards – Executive Director
• Jon Lechte – Non-Executive Director
Fortlake Asset Management – Board of Advisers
• Peter Coad – Chair of the Risk Committee
The Fortlake Board of Directors approved this announcement for release.