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Antares Capital Partners, is a dedicated asset management business managing more than $30.9bn on behalf of Australian investors, with $5.7bn in Australian equities and more than $25.2bn in fixed income (as at 30 September 2024).

At Antares we are wholly focused on delivering performance for investors through an investment approach underpinned by dedication, experience and discipline. We recognise and are ready for market uncertainty, and believe great performance is achieved through a focus on both risk and return. Antares consists of two divisions – Antares Equities (formerly Portfolio Partners and Aviva Investors) and Antares Fixed Income (formerly National Specialist Investment Management).

Antares Fixed Income focuses on delivering performance objectives for investors within a carefully managed, defined risk framework. Antares Fixed Income team uses a highly systematic investment approach that has its roots in the thorough knowledge and experience of the investment team.

  • Antares Fixed Income believes that debt markets are not completely efficient and as such, opportunities can be identified and exploited in a systematic way. Antares Fixed Income portfolios are constructed with the aim of capturing income whilst minimising the risk of capital loss.

    Superior returns for a given level of risk can be delivered by investing in a broad set of opportunities and using a diversified range of strategies. Antares Fixed Income seeks to maximise returns across a range of economic cycles.

    Antares Fixed Income retains a stable, collaborative and experienced team of investment professionals, who have managed investment portfolios across a range of economic cycles.

    Our Process

    Antares Fixed Income investment  process can be summarised in the below charts:

       

     

    Responsible Investment (RI)

    Read Antares RI policy.

    Risks

    Risks specific to investments in fixed income instruments may include credit and default risk (i.e. the risk that the issuer of security owned by the relevant fund may not meet their obligations to make interest payments, the repayment of capital or both), interest rate risk (the value of the relevant Fund’s investments may be sensitive to changes to interest rates), inflation risk (the risk of inflation being higher than anticipated), and liquidity risk (the risk of not being able to find a buyer in a timely manner). Please refer to the relevant fund’s offer document for more information.

  • Fixed Income team

    The Antares Fixed Income is a leading fixed interest manager, covering a breadth of domestic and international securities.

    Antares Fixed Income has managed fixed interest securities for clients since 1990 and currently has over AU$25.2 billion under management (as at 30 September 2024). The team comprises nine investment professionals with an average experience of over 25 years in the industry.

    Mark Kiely

    Head of Antares Fixed Income

    Key Responsibilities
    Mark has overall responsibility for the Antares Fixed Income business and team. Mark has 32 years’ experience in managing fixed income portfolios and currently has portfolio management responsibilities across various interest rate and credit focussed strategies. Mark began his investment management career in early 1993 when he joined MLC Investment Management as an analyst in a role spanning direct portfolio management as well the research and monitoring of external investment managers involved in fixed income, currency, and hedge fund strategies. Since joining in 1993, Mark has been a key member of the direct fixed income portfolio management team, now known as Antares Fixed Income, and has deep experience in the management of all the strategies managed by the team.

    Years with the Group
    32

    Years of Industry Experience
    32

    Experience
    2020 – Head of Antares Fixed Income
    2000 - Portfolio Manager - (Fixed Interest, CPI, Asset & Liability)
    1997 - 2000 - Portfolio Manager - MLC Investment Management
    1993 - 1997 - Analyst - Short-term Securities - MLC Investment Management

    Qualifications
    B.Ec., M.Fin, Grad Dip Fin.

    Ken Hyman

    Portfolio Manager

    Key Responsibilities
    Ken has over 52 years investment experience of which 35 years has been with Antares Fixed Income. Ken was the team leader prior to transitioning the business and leadership responsibilities of Antares Fixed Income to Mark Kiely in March 2020. Ken’s current role includes providing broad team support with a key focus on scenario analysis and strategy discussions. Prior to joining Antares Fixed Income, Ken’s previous investment experience included 9 years as a partner with Gilt Money Investments and 8 years with Nefic Acceptances, a South African merchant bank where he was managing equity and fixed interest portfolios.

    Years with the Group
    35

    Years of Industry Experience
    52

    Experience
    2000 - Investment Manager - Antares Fixed Income
    1989 - 2000 - Fixed Interest Portfolio Manager with Capita/MLC
    1979 - 1988 - Partner in Gilt Money Investments, offering portfolio management and dealing services in the South African Fixed Interest market
    1971 - 1979 - Nefic Acceptances (a South African merchant bank) and Sage Holdings (a South African mutual fund) managing equity and fixed interest portfolios

    Qualifications
    B.Com., Grad Dip Fin, FFin.

    Tano Pelosi

    Portfolio Manager

    Key Responsibilities
    Dr Tano Pelosi has over 32 years’ experience in the finance industry across banking and funds management, of which 21 years has been with Antares Fixed Income. Tano currently has lead portfolio management responsibility for Antares’ dedicated inflation linked bond portfolios and also contributes to the team’s scenario analysis, macro and interest rate assessment that feeds into other mandates managed by Antares Fixed Income. Tano has a background in credit analysis and prior to commencing his role with Antares Tano was a top rated corporate bond analyst for NAB Capital Markets and had a similar role prior to that at Westpac..

    Tano has a PhD in Economics from UNSW and Masters degrees in econometrics and finance.

    Years with the Group
    21

    Years of Industry Experience
    32

    Experience
    2004 - Portfolio Manager - (CPI, Credit) - Antares Fixed Income
    2000 - 2004 - Senior Analyst - Research, Wholesale Financial Markets, NAB
    1996 - 2000 - Senior Analyst - Credit Research, Westpac Institutional Bank
    1992 - 1996 - Various Roles in retail and commercial lending, up to manager level - Westpac Banking Corporation

    Qualifications
    B.Com., M.Ec., M.Com., PhD

     

    Steven Lee

    Portfolio Manager

    Key Responsibilities
    Steven has over 28 years’ experience in banking and investment related roles of which 19 years has been with Antares Fixed Income. Steven currently has lead responsibility for the cash and liquidity management of all portfolios managed by Antares Fixed Income as well as the day to day management and hedging of the Asset Liability mandates managed by Antares which include both nominal and inflation linked bond exposures.

    Years with the Group
    19

    Years of Industry Experience
    28

    Experience
    2020 – Portfolio Manager
    2007 - Assistant Portfolio Manager - Antares Fixed Income
    2006 - 2007 - Investment Operations Manager
    2000 - 2006 - Senior Associate - Morgan Stanley Structured Products
    1999 - 2000 - Investment Analyst - Deutsche Bank
    1997 - 1999 - Fund Accountant - State Street Australia Limited

    Qualifications
    B.Bus. Dip Securitisation

    Gillian Wilson

    Portfolio Manager

    Key Responsibilities
    Gillian has responsibility for the management of broader fixed interest portfolios with a key focus on ESG. Gillian joined the Antares Fixed Income team in September 2021 as a Portfolio Manager.
    Gillian began her career in 1998 when she joined BT Funds Management in their client services team. Prior to joining Antares Fixed Income, Gillian was a Portfolio Manager and Vice President at Dimensional Fund Advisors since 2008.

    Years with the Group
    3

    Years of Industry Experience
    24

    Experience
    2021 – Portfolio Manager, Antares Fixed Income
    2008 – 2021 – Portfolio Manager and Vice President – Dimensional Fund Advisors
    1999 – 2004 – Risk Analyst – Macquarie Bank
    1998 – Client Services Representative – BT Funds Management

    Qualifications
    B.Bus, M.Eco.

     

    Carol Yuan

    Assistant Portfolio Manager

    Key Responsibilities
    Carol has responsibility for providing investment research and portfolio management support for Antares' credit focused portfolios. She has a decade of experience specialising in bottom-up, credit analysis across various credit instruments including bonds, loans, investment grade and high yield credits in both domestic and overseas market. Prior to joining the Antares Fixed Income team in March 2022, Carol spent nearly 5 years at Perpetual Credit & Fixed Income as a Credit Analyst, covering investment grade and high yield bonds and private loans. Before that, she spent over 4 years at Aberdeen Asian Fixed Income, specialising in Asian investment grade and high yield credit research. She also held various roles previously at AllianceBernstein and AIG Australia in performance analytics, trade support and treasury accounting.

    Years with the Group
    3

    Years of Industry Experience
    17

    Experience
    2022 – Assistant Portfolio Manager, Antares Fixed Income
    2017 – 2022 – Credit Research Analyst – Perpetual Credit & Fixed Income
    2013 – 2017 – Credit Research Analyst – Aberdeen Asset Management
    2007 – 2011 – Operation Associates – AllianceBernstein

    Qualifications
    CFA, M.Econ, B.Com

     

    James Lee

    Quantitative Analyst

    Key Responsibilities
    James has over 21 years’ experience of which 18 years has been with Antares Fixed Income. James primary responsibility is providing quantitative and analytical support to the Antares Fixed Income team. His role includes the development, refinement and maintenance of proprietary models used for market analysis and portfolio management. James also provides backup portfolio support for the cash and liquidity management of all portfolios managed by Antares Fixed Income.

    Years with the Group
    18

    Years of Industry Experience
    21

    Experience
    2008 - Quantitative Analyst - Antares Fixed Income
    2007 - 2008 - Asset Management Technology support roles - MLC
    2005 - 2007 - Asset Management Technology support roles - Challenger

    Qualifications
    BCST(ComputerScience), MAppFin

    David Xu

    Credit Research Analyst

    Key Responsibilities
    David has responsibility for performing fundamental credit research for Antares’ credit-focussed portfolios. Prior to joining Antares, David spent 6 years at Moody’s Investors Service covering high yield and investment grade corporates, across Australia and New Zealand. He also previously worked in credit risk management at Commonwealth Bank, and in foreign exchange markets research at the Reserve Bank of Australia.

    Years with the Group
    2

    Years of Industry Experience
    9

    Experience
    2023 – Credit Research Analyst, Antares Fixed Income
    2017 – 2023 – Analyst, Corporate Finance Group, Moody’s Investors Service
    2016 – 2017 – Credit Risk Associate, Institutional Banking & Markets, Commonwealth Bank
    2016 – Analyst, Financial Markets Group, Reserve Bank of Australia

    Qualifications
    CFA, MSc (Fin), BCom (Hons)