Bennelong has welcomed its first client, Paragon IM Pty Ltd, following the expansion of its trustee service offering in October last year.

Bennelong Funds Management Ltd is now the responsible entity (RE) for the Paragon Australia Long Short Fund. The Fund invests in equities predominantly in the industrial and resources sectors and across global markets.

Alan O’Brien, relationship manager, trustee services at Bennelong, said partnering with Paragon is a great first step in the company’s outsourced RE capabilities rollout.

“We’ve been working hard on creating a comprehensive suite of outsourced RE service offerings for investment managers, both domestically and internationally. Being able to officially bring Paragon on board demonstrates our capabilities in this area.

“It’s been great to work with Hillier Deniz and John Deniz from Paragon, in the appointment of Bennelong as the Fund’s RE,” said O’Brien.

John Deniz, Paragon’s chief investment officer, co-founded Paragon in 2012 and is responsible for executing the Fund’s investment strategy.

“Working with Bennelong has been a seamless experience so far, and I’m confident this partnership will strengthen our Fund’s operations,” said Deniz.

“Thank you to our investors for their support in facilitating this change. I look forward to Bennelong being at the helm.”

Bennelong’s new outsourced trustee service product offers full oversight and compliance responsibilities for managed funds, and other investment products. It will engage with service providers and other stakeholders to ensure comprehensive regulatory and compliance protection, while allowing the investment manager to optimise fund performance. Tailored ancillary services are also available, including investor services and middle office operations.