In a statement to the ASX on Tuesday, Magellan Financial Group confirmed that Airlie Funds Management founder John Sevior will retire in June this year.
Mr Sevior, who has an investment career spanning more than 30 years, founded Airlie in 2012 following 17 years in investment management and leadership roles at Perpetual. Airlie went on to be acquired by Magellan in 2018.
Magellan stated that Mr Sevior had developed a highly capable team under his leadership and would leave the specialist Australian equities fund manager in a strong position.
The announcement comes just one day after Magellan disclosed further outflows and another fall in its funds under management for the month of February.
Commenting on his departure, Mr Sevior said that it had been a great privilege to work with the “exceptionally skilled and motivated” team at Airlie.
“I am immensely proud of what Airlie has been able to accomplish for its clients and staff and am delighted that, since partnering with Magellan in 2018, Airlie has continued to enhance its offering and provide strong outcomes for our institutional and retail clients,” he said.
“I am confident that the Airlie business is left in outstanding and experienced hands with the leadership of Matt Williams and Emma Fisher and a talented team of investment analysts and financial service professionals, and I look forward to supporting a smooth transition.”
Magellan chief executive officer David George acknowledged and thanked Mr Sevior for his leadership and contribution to Airlie as well as the broader Magellan business.
“As the founder of Airlie, John successfully established, built, and led an outstanding Australian equities funds management team and business. His retirement marks the conclusion of a remarkable career where he excelled as a portfolio manager and as an industry leader,” he said.
With Mr Sevior’s departure, portfolio management responsibilities will transition to Matt Williams, who will become Airlie’s head of Australian equities. He will work with Emma Fisher as deputy head of Australian equities and portfolio manager of the Airlie Australian Share Fund.
Mr Williams has 25 years of experience in investment management, including as head of equities at Perpetual from 2011 to 2015. He first joined Airlie in July 2016 as portfolio manager on behalf of institutional and retail clients.
“It has been an honour and privilege to work closely with John for over 20 years, and now to lead Airlie forward. Airlie remains committed and aligned to serving our clients over the long term as part of Magellan,” commented Mr Williams.
