Macquarie Funds Management, after establishing a beachhead in Hong Kong three years ago, is shifting portfolio management back to Sydney.
The three-person team of Derek Mak, Indaka Nanayakkara and Veronica Ho has been disbanded. Nanayakkara and Ho were recently let go and Mak will return to his native Australia in April.
The firm will continue its compliance and settlements activity in Hong Kong.
The Hong Kong office was initially established by Stuart Turner in 2001 with a Hong Kong enhanced equities fund that catered to a local institutional investor. Mak, a portfolio manager, joined in 2002 with a mandate to add clients. He took the reins from Turner, who...
