The UK-based Global Wealth Allocation (GWA) has opened an office in Australia in order to service the growing interest in wealth weighted investment strategies across the Asia Pacific.
"GWA has based its Asia Pacific office in Australia as a large portion of GWA's existing Asia Pacific client base is located here," GWA's new Asia Pacific managing director Tony Sutton said.
With the establishment of an Australian office GWA is planning to launch new products and indices within the Asia Pacific region, and will expand its team to include finance and economics experts who possess equity market experience, Sutton said.
Prior to his appointment which sees Sutton return to Australia, he was GWA head of research in the UK and prior to that spent six years as a Goldman Sachs JBWere quantitative analyst.
"Our Asia Pacific customers, their advisors and implementers of GWA portfolios will have their interest best served by Tony in our new Melbourne location," GWA chief executive David Morris said.
"Tony's extensive knowledge of GWA's business model, investment philosophy and portfolio construction comes from leading the GWA research function in London for nearly three years."
GWA partnered with the FTSE Group in 2003 to create new indices for the global equity market and provide investors with a new investment proposition.
Breaking with the traditional price-weighted design, it captures a company's wealth creation in the form of its net income, cashflow and book value.
