Equity Trustees has appointed John Terlikar as the lead portfolio manager of its EQT Mortgage Income Fund.
Terlikar will work with Mortgage Income Fund manager Joe Aszodi who is set to retire in a year.
Equity Trustees head of asset management Shaun Manuell said Terlikar was a key appointment for the asset management business.
Terlikar is a 32-year veteran of the financial services industry. He joins Equity Trustees from Centuria Capital, formerly the Over Fifty Group, where he was the head of reverse mortgages. Before that he was a senior mortgage manager at Perpetual and a credit manager at Axa Asia Pacific.
The EQT Mortgage Income Fund, established in 1971, aims to match returns in the commercial property sector. The fund had $74.5 million in net assets as of 31 March 2011.
It has returned 5.75 per cent a year over the past three years as the official rate averaged 4.5 per cent.
"The EQT Mortgage Income Fund is an important fund to us and performs exceptionally well. It is one of the oldest of its type in Australia and has the distinction of never suspending redemptions or experiencing a loss," Manuell said.
