Belgian bank buys into Liontamer

By MARTA STEEMAN - The Press | Wednesday, 30 May 2007

 

Boutique manager: Janine Starks, left, investment director, and Laetitia Peterson, managing director of fund manager Liontamer.

Small fund manager Liontamer run by two women, one in Christchurch and one in Auckland, has attracted international investment from a large Belgian investment bank.

The bank, KBC, has bought 51 per cent of the local fund manager, Liontamer Investments, started by Belgian-born Laetitia Peterson, its managing director, and Janine Starks, its investment director.

Starks, of Christchurch, said it was a vote of confidence in the business which had more than $200 million in funds under management, built up over four years. Their 7000-odd investors were introduced by brokers and financial planners, insurance companies and accountancy firms with a good number of clients in the South Island.

Liontamer is not revealing what KBC paid for its 51%. Starks and Peterson retain a 49% stake and said they will retain full management control.

Using their experience and contacts developed in Britain, Europe and the United States, Starks and Peterson offer "capital protected" investments from large overseas banks such as Barclays and UBS.

Starks said investors with Liontamer usually invested over a fixed term of four to five years. Its latest fund was Global Series 3 which offered 100% capital protection and 1.5 times the rise in the market. It also offered a version with 90% protection and twice the market gains.

Liontamer offered a variety of funds in several sectors such as Asian shares, emerging markets, commodities, currency and gold.

The relationship with KBC was forged by Peterson who watched the bank going from strength to strength. KBC acted as a mentor and source of advice for the boutique Liontamer fund manager, Starks said.

Starks cut her teeth in banking and investment with firstly ANZ Bank in its treasury division and later with financial adviser Chase de Vere in Britain.

Peterson, who has worked for large investment bank Goldman Sachs, is Belgian born and now living in Auckland. In New Zealand financial services, she has worked for Fay Richwhite, PricewaterhouseCoopers and the BNZ.

Starks said there were not many female fund managers in New Zealand.

Well-known female fund managers were Carmel Fisher, of Fisher Funds Management, and Rebecca Thomas, of Mint Asset Management.