Overview
BennBridge US was formed in 2019 as a Delaware limited liability corporation. BennBridge
US is a wholly-owned, indirect subsidiary of Bennelong Funds Management Group Pty Ltd
(“BFMG”), which is a private Australian firm that partners globally, through its subsidiaries,
with various investment managers to offer investment solutions to a variety of investors.
BennBridge US became a SEC registered investment adviser under the Advisers Act, in
September 2020. Registration as an investment adviser does not imply any level of skill or
training. As of December 31, 2023, BennBridge US managed Client assets in the US in the
amount of approximately $371 million.
BFMG is a multi-boutique investment firm which takes indirect equity interests in investment
managers established as boutiques. BFMG and certain of its subsidiaries provide each
boutique working capital, compliance, operations and trading, distribution, fund, and sub-
advisory support as well as a wide range of non-investment services. BFMG’s objective is to
provide a rigorous structure that gives each boutique the same quality infrastructure and
support offered by large institutional firms while enabling each of them to operate in a more
personalized and entrepreneurial environment. BennBridge US utilizes databases, systems,
and technology developed and utilized by BFMG’s subsidiary BennBridge Ltd (“BennBridge
UK”).
BennBridge US, in rendering investment advisory services, uses the resources, including
personnel and boutiques of BFMG (the “Participating Affiliates”) through a “participating
affiliate agreement” in which multi-national financial firms commonly rely upon the SEC’s
positions in a line of no-action letters (the “Unibanco letters”).
BennBridge UK, regulated and authorized by the United Kingdom’s Financial Conduct
Authority and not registered with the SEC as an investment adviser under the Advisers Act,
has indirectly entered a
Sub Investment Management Agreement with BennBridge US to
share Participating Affiliate personnel with, and provide certain services to U.S. clients
through, BennBridge US, the SEC registered adviser, without BennBridge UK or other
Participating Affiliates registering under the Advisers Act.
Each Participating Affiliate has entered into a Memorandum of Understanding (“MOU”) with
BennBridge UK pursuant to which the “Participating Affiliate” as that term is used to allow U.S.
registered investment advisers to use portfolio management and trading resources of advisory
affiliates subject to the supervision of the BennBridge US, the SEC registered adviser.
Through the Participating Affiliate Agreement, Participating Affiliates render portfolio
management, research, or trading services to clients of BennBridge US. Investment
personnel providing such services are considered to be “associated persons” of BennBridge
US and are subject BennBridge US oversight and supervision.
Currently one boutique, Skerryvore Asset Management LLP (“Skerryvore”) actively serves as
a Participating Affiliate. Skerryvore provides Emerging Market Equity strategies: Skerryvore
Global Emerging Markets Equity Strategy and Skerryvore Global Emerging Markets Equity
All-Cap Strategy.
BennBridge US is currently providing services to registered investment company, private fund
and collective investment trust clients. BennBridge US tailors its investment advisory services
to the investment objectives of each Client. These objectives are described in the governing
documents for each fund and in the managed account agreement for any managed account
clients. The assets of each client are managed in accordance with the terms of the documents
governing the relationship with the applicable client.
Please refer to Item 8 (Methods of Analysis, Investment Strategies, and Risks of Loss) of this
Brochure for additional information regarding investment process and associated risks.