Paragon Announcement – Hillier Deniz announces her upcoming departure

It is with mixed emotions I am announcing that I will be leaving Paragon within the next few months. Having been an integral part of Paragon and the Fund since its inception in 2013, the decision has not been made lightly. After more than 11 years, I’ve decided to take time out to spend quality time with my family.

Given the ‘many hats I wear’ at Paragon, and with the ever-increasing regulatory obligations, John Deniz and I believe the appointment of an external responsible entity (RE) for the Fund (to replace Paragon as RE) is the most appropriate course of action and in the bests interests of our investors. This will allow John to continue to dedicate his time to managing the Fund’s portfolio without any disruption/gaps in operations arising from my departure. Pleasingly, Bennelong Funds Management (subject to investor approval) have agreed to the appointment as the Fund’s new RE.

Some structural and operational changes will take effect in due course, but overall investors of the Fund shouldn’t notice any significant changes. John will remain Chief Investment Officer of the Fund, and the Fund’s operations will be managed by its exceptional service providers – Bennelong as RE, UBS as Custodian and Prime Broker, and Link as Administrator.

I’ll be working closely with all parties to ensure a smooth transition over the remainder of this year and expect there will be opportunity for me to personally thank many of you in coming months. Nevertheless, I wish to express my deepest gratitude to all of our investors and the many amazing people who have worked with Paragon (all our service providers) for their unwavering support and assistance to me personally during my time with Paragon.
Hillier Deniz, CEO and Director, Paragon Funds Management Ltd

I wish to add that Hillier’s many contributions to Paragon and the Fund have been invaluable. With her extensive background in accounting, finance, governance and compliance, Paragon has been in very good hands. As my sibling and business partner, I am truly grateful to her for her passion, dedication and unrelenting commitment. As much as I’m sad to see her go, I support her decision wholeheartedly and I’m pleased she’s taking a break to spend some much-deserved time with her family.

As Hillier has already stated, albeit this has resulted in operational and structural changes, fundamentally the Fund remains the same. I will continue as Chief Investment Officer, and the Fund’s investment objective and investment strategy remain unchanged.

On behalf of Paragon, and me personally, I thank Hillier for her dedication, loyalty and outstanding achievements over this past decade.
John Deniz, CIO and Director, Paragon Funds Management Ltd