Investment manager Private Portfolio Managers (PPM) has appointed Andrew Beirne as a portfolio manager.
Beirne joins from MIR Investment Management, which was acquired by Challenger's boutique business, Fidante Partners, in May.
He has also worked in investment research and portfolio management roles for UBS, Hartley Poynton and ING Investment Management.
Beirne was a portfolio manager of the $1-billion ING Small Companies Fund, which produced an outperformance of more than 10 per cent a year during his time with the fund.
"Andrew has produced outstanding results throughout his career. His approach marries well with the PPM investment philosophy of adopting a long-term perspective, investing in a limited number of exceptional companies, managing company risk and minimising tax to produce superior outcomes for investors," PPM founder and chairman Hugh MacNally said.
Beirne's appointment follows PPM's expansion of its individually managed account (IMA) service.
"Investors are increasingly rejecting managed funds in favour of the transparency and tailored investment exposures IMAs offer," MacNally said.
"We expect this trend will continue as the benefits of individually managed accounts are increasingly realised."
Beirne said the IMA structure offered advantages over the managed fund structure.
"The IMA structure allows an investment manager to add considerable value to investors that managed funds simply cannot achieve," he said.
"The ability to manage tax outcomes and generate predictable dividend income flows are compelling benefits for most investors."
In October last year, PPM appointed Ian Hardy, the former chief investment manager of Centric Wealth IMA arm Centric Portfolio Managers, to the team.
Hardy was also the investment manager for Centric Wealth's private capital division.
