Concentrated Leaders Fund externalises investment management; CEO departs

ASX-listed Concentrated Leaders Fund (CLF) has announced that the management of its investment portfolio will be externalised. As a result, they have parted ways with CEO and CIO David Sokulsky, who was appointed to the position in early 2018 when the board decided to internalise those functions.

Sokulsky will retain his position on the CLF board.

During his time in the CLF executive position, Sokulsky and his team "guided the management of the portfolio through some of the most volatile markets in recent history," according to a release on the ASX.

"As at 31 May 2020, since taking over the management of the CLF portfolio, David and his team have outperformed the S&P/ASX 200 Total Return Index by over 4.5% on a gross performance basis."

Sokulsky has become the CEO/CIO and founder of Carrara Investment Management, which will handle the investment functions for CLF.

"The Board is very pleased to have secured the continued services of Dr Sokulsky and his portfolio management team, and believes that this structure positions the Company well for the future. We look forward to continuing to achieve solid results year on year and providing a growing and sustainable income stream to all Shareholders."