HFA Asset Management is to change its name to Certitude Global Investments and move away from its focus on passively-managed absolute return and structured products to include more active managers.
The firm, which issued eight structured products between 2007 and 2008, has traditionally sold its products via retail brokers, but said it plans to grow its institutional and high-net-worth clientele.
Certitude has hired a new chief executive officer, Craig Mowll, to steer its new direction. It will in future offer active funds via a link with 'a leading European manager. The first new product is expected to be launched in Australia during a national roadshow in early August.
"The global financial crisis changed the investment landscape forever, and both investors and their advisers expect greater liquidity, simpler and more easily understood products and greater transparency," said Mowll.
The firm will continue to work alongside sister company Lighthouse Partners, a US fund of funds.
Mowll said a broader active manager product suite will enable the company to 'counterbalance the recent increased exposure to passive managers in the form of index funds and exchange-traded funds'.
HFA AM is part of HFA Holdings, which owns Lighthouse Partners, holding in excess of AUD5.7bn ($5bn) in assets under management. The name change will be effective from 1 August 2010.
These products appear on the Australian database.