Pengana CIO departs

Chief investments officer and portfolio manager Jordan Cvetanovski has left Pengana.

Cvetanovski's departure was announced on the ASX, along with the co-founder of Pengana's international equities fund, Steven Glass. He's being replaced on an interim basis by James McDonald.

Before joining Pengana, Cvetanovski was a portfolio manager and European equity manager with Paris-based Carmignac Gestion where he looked after European and emerging market funds. He also spent time as a co-fund manager with Robeco in the Netherlands and as an international equities analyst at Platinum Asset Management and BT Funds Management.

In a statement, Cvetanovski and Glass wished Pengana and its clients well.

In particular, the pair pointed to the performance of Pengana's international equities strategies during their time. "They have delivered market-leading performance. That performance is publically available and need not be restated here.

"Jordan and Steven have no intention to, and will not, disturb existing client relationships of the International Equity Strategy funds. They are confident that with their individual track records of success they will enjoy new opportunities."

They say that a further announcement will be made in due course, "when it is appropriate to do so."