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Five Oceans gets mandate from Garnaut

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Boutique fund manager Five Oceans Asset Management has received a $50 million mandate from Garnaut Private Client Advisers to manage the AV Chindia Fund.

The mandate is the second for the fund manager in two months.

In December last year, the fund manager also secured a mandate from van Eyk to run 25 per cent of the Blue Print Absolute International Shares Fund.

"Pretty much the marketplace was frozen during the crisis," Five Oceans chief executive Ross Youngman said.

"But there has been a significant change in the last six months; people have started to invest again, changed managers, reviewed portfolios, people start to invest again in the market, and we have seen that in our business with flows significantly up in the last six months."