New York, USA - April 22, 2010, New York, USA - Macquarie Global Infrastructure Total Return Fund announced that Jon Fitch will retire as CEO and Co-Portfolio Manager, effective May 31.
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Mr. Fitch has been Head of Macquarie Funds Group's Infrastructure Securities business, Chief Investment Officer of the investment team, and a Portfolio Manager across the portfolios in the Global Infrastructure Securities Strategy since the Strategy's inception in 2004.
Mr. Fitch has been the Portfolio Manager of MGU since MGU's inception in 2005 and became Co-Portfolio Manager in 2007. He has been active in the analysis of infrastructure and utilities stocks since 1997 and has over 20 years of business experience encompassing business management, equity analysis, strategic consulting and banking.
Mr. Fitch joined Macquarie Group in 1995 as an analyst for Macquarie Securities Group (formerly known as Macquarie Equities Limited). From 1997 to 2000, Mr. Fitch led the equity research coverage of the entire Australian infrastructure sector and was responsible for coverage of companies across the sector, including tollroads, gas companies, electric utilities, airports and diversified funds.
From 2001 to 2003, Mr. Fitch was located in Hong Kong, where he was responsible for establishing a research team of five analysts and initiated research coverage on Asian infrastructure and utility stocks.
Mr. Fitch holds a Bachelor of Commerce (Marketing) from the University of New South Wales, a Master of Business (Accounting and Finance) from the University of Technology, Sydney, and a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia, of which he is a Fellow Member.
The company has appointed Brad Frishberg as the new CEO. Mr. Frishberg joined Macquarie Group in 2009 in the firm’s New York office as Managing Director and Chief Investment Officer of the Infrastructure Securities division within Macquarie Funds Group – the firm’s global asset management arm.
Mr. Frishberg has more than 20 years of asset management experience. Prior to joining Macquarie, he was Managing Director and U.S. Equity Portfolio Manager at J.P. Morgan Asset Management, where over a period of 13 years he was responsible for managing portfolios and businesses in London, Tokyo, and New York.
Mr. Frishberg started his career at Aetna Asset Management as an international analyst and then as a portfolio manager for Japanese equity and fixed income. He earned his bachelor’s degree in business economics from Brown University and his master’s degree in economics from Trinity College. He is a CFA charterholder.
Also as a result of Mr. Fitch’s retirement, Andrew Maple-Brown, currently Co-Portfolio Manager of the Fund with Mr. Fitch, will become the sole Portfolio Manager of the Fund effective June 1, 2010. Mr. Maple-Brown is supported by Macquarie Funds Group’s Infrastructure Securities team, which is one of the largest and most experienced investment teams specializing in the listed infrastructure sector. ■