Pendal appoints Saunders as portfolio manager

Global investment manager, Pendal Group, has announced the appointment of Brenton Saunders as Portfolio Manager for its MidCap Fund, effective from April 1, 2022.

The announcement comes after the retirement of previous manager, Andrew Waddington, in March 2022, after an investment career spanning 35 years and roles at Pendal, BT and Rothschild.

Saunders will co-manage the MidCap Fund with Waddington until the latter’s retirement comes into effect, and he will take full control of the fund in April.

Saunders brings 28 years of experience, including 25 years as a research analyst and 16 years as a portfolio manager, to the new role. He has also spent nine years in portfolio management at Pendal.

“This evolution makes it an exciting time for Pendal’s Midcap Fund. Brenton is an experienced investor with a proven ability to generate performance, manage risk and construct institutional-grade portfolios,” Richard Brandweiner, Pendal Group’s Chief Executive, Australia, said.

“Brenton has been part of the team for nine years, as resource analyst and Portfolio Manager.

“This experience means he is incredibly well placed to leverage the insight of our 19-strong Australian equity team who cover the full market-cap spectrum. This is one of the key advantages of our approach to midcaps.

“On behalf of our clients and colleagues, we would like to acknowledge and thank Andrew for his significant contribution to the team’s success over a such a long time.”

The $512 million MidCap Fund (as of January 2022) features 40 to 60 Australian midcap shares and leverages the knowledge and insight of senior executives and directors at ASX-listed companies accessed by Pendal.

“Andrew has been a key part of the Pendal team for over 24 years. As an investor he delivered phenomenal returns to our investors. The Pendal Midcap fund, which he ran from inception in 2007, achieved over 5 per cent outperformance per year,” Crispin Murray, Head of Equities at Pendal Group, said.

“This was built on his ability to be disciplined, detailed and have the vision to see potential ahead of the market. Andrew is a great colleague, open minded, supportive and always acts with the upmost integrity. Andrew leaves a uniquely strong legacy. We wish him all the very best for the future.

“We look forward to Brenton building on this, leveraging the resources of the whole team and delivering the next leg of success for this fund.”