Upstart AM poaches Magellan’s global small, mid-cap talent

Patrick Buncsi

16 July 2024

Recently launched boutique global equities manager, Canopy Investors, has reunited three Magellan alumni, with Jack McManus joining the firm as portfolio manager.

McManus’ career spans more than 13 years in financial services, including a decade at global listed equities at Magellan, where he was a senior analyst and member of the investment committee in the global, small and mid-cap, and emerging growth teams.

Prior to joining Magellan in 2014, McManus served just over three years as equity research analyst at Morgans Financial.

McManus’s appointment at Canopy also reunites him with the firm’s co-founders and portfolio managers Kris Webster and Michael Poulsen, with whom he developed the small and mid-cap strategy at Magellan.

Webster praised McManus as a “highly experienced and passionate investor who shares our investing ethos. We are thrilled to extend our already ten years working and investing together.”

Poulsen added: “Jack has demonstrated strong performance in the past. His character, breadth of experience across sectors, and ability to identify new investment opportunities made it an easy decision to have him join our team.”

Part of the Bennelong Funds Management group, Canopy was founded in June this year with its flagship global small and mid-cap fund.

Webster said the fund has received significant interest since its launch.

“Australian investors are clearly looking for alternatives to diversify their equity portfolios away from an increasingly concentrated global large-cap index,” he said.