Pengana boosts Australian equities expertise with new hire

Yasmine Raso

Senior Journalist

17 November 2025

Australian fund manager, Pengana Capital Group, has strengthened its Australian equities investment team with the appointment of Michael Maughan as Senior Portfolio Manager.

Maughan joins from Australian equities investment house, Tyndall Asset Management, and brings close to three decades of experience and expertise in portfolio management and equities research.

“Michael is well-known for his disciplined investment approach, deep company insights, and consistent delivery of income and growth outcomes for clients,” Russel Pillemer, CEO of Pengana Capital Group, said.

“Michael will operate as a peer alongside our existing senior team members, contributing to the collaborative culture that defines Pengana’s investment philosophy.”

Rhett Kessler, CIO and Senior Fund Manager for the Pengana Australian Equities Fund, welcomed Maughan to the team and said he was looking forward to combining everyone’s strengths to continue to deliver strong performance.

“Michael brings expertise across technology, media, telecoms, transport and property, which complements the team’s existing strengths and expands our research depth,” he said.

“We also value Michael’s disciplined focus on fundamental cash flow analysis, his strong senior corporate relationships, and his clarity in communication with both clients and stakeholders.”

Maughan said he was “thrilled” to be joining the team.

“I’ve always admired Rhett Kessler and Anton du Preez and the team for their integrity and skill as investors, operators, and communicators,” he said.

“While we all bring varied experiences and skills, we share the same philosophy and have a genuine commitment to growing clients’ wealth steadily and responsibly.”