Paragon Announcement – Bennelong Funds Management is now RE of the Fund
It’s official. Bennelong Funds Management Ltd is now the responsible entity of the Fund.
A resolution in favour of the voluntary retirement of Paragon Funds Management Ltd as responsible entity (RE) of the Paragon Australian Long Short Fund (Fund), and the appointment of Bennelong Funds Management Ltd (Bennelong) as replacement RE was passed at the Members Meeting on Thursday 12th December. ASIC has formally appointed Bennelong as RE of the Fund effective from today, 18th December 2024.
As part of this change, Paragon IM Pty Ltd, has been appointed by Bennelong as the Investment Manager (IM) of the Fund, replacing Paragon Funds Management Ltd, with John Deniz continuing as Chief Investment Officer.
The Fund’s PDS and TMD have be reissued, and the Fund’s constitution has also been amended, to reflect these changes. As stated previously, the Fund’s investment strategy and fees charged to investors remain unchanged.
The transition is well underway and we don’t expect any disruption to the Fund’s operations or any inconvenience to investors.
Paragon’s website will be updated shortly to reflect the appropriate changes also.
We thank our investors for their support in facilitating this change, and we look forward to Bennelong taking the helm.