SQM Research reshapes fund ratings panel amid ASIC dispute
SQM Research, the Australian investment research firm established in 2006, has appointed two new members to its ratings committee and said it is engaging in court-mandated mediation related to its involvement in the Shield Master Fund.
The committee now includes Claire McCormack, who transitions from Zurich Investments as fund research manager. With over 30 years in investment management, asset allocation, and quantitative analysis, she previously directed strategy reviews for Zurich’s diversified funds. Her addition comes after Chetan Trehan left his position as sector head for real assets and alternatives in November.
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Patrick Bennett, an independent analyst under contract with SQM, also joins the committee. His career includes tenures at Colonial First State, Shadforth, and as chief investment officer at Averina Investment Management. The committee’s five members now comprise Louis Christopher, SQM’s founder, alongside McCormack, Bennett, James Purvis, and Stephen van Eyk.
Christopher highlighted the importance of the new team, noting that ratings depend on both personnel and methodology. SQM also provided an update regarding an ASIC matter. A year ago, ASIC alleged to the Federal Court that SQM Research prepared reports containing misleading representations, and that its processes fell short of expected standards when it published ‘favourable’ ratings for the Shield Master Fund.
