The partnership follows a successful four-month pilot program that demonstrated ATHENA’s ability to streamline data management, strengthen governance, and improve operational efficiency across PPM’s investment operations.

The ATHENA Platform comprises two core modules that will transform PPM’s operations:

• ATHENA Investment Data Platform – a cloud-based data infrastructure that centralises, validates, and manages investment data across holdings, transactions, pricing, and benchmarks, creating a single source of truth for the firm’s investment data.

• ATHENA Portfolio Navigator – a portfolio construction and monitoring tool supporting model and client-specific portfolios, order workflows, asset-allocation modelling, and advanced reporting.

Angus McBean, Chief Operating Officer at PPM, stated:

This partnership strengthens our commitment to innovation and data integrity. By leveraging ICS’s ATHENA Platform, we’re modernising the way we manage investment data, automate reporting, and support scalable, transparent portfolio management. The efficiencies gained through this transformation will allow us to focus even more on delivering value to our clients.

The implementation of ATHENA will empower PPM to:

• establish consistent, audit-ready data governance across systems and custodians
• automate key workflows for portfolio monitoring, rebalancing, and compliance
• enhance transparency in model and client portfolios
• support future integration with managed-account and third-party platforms

We’re delighted to welcome Private Portfolio Managers to the ICS client community,” said Christian Eriksen, Chief Commercial Officer at ICS. “PPM’s commitment to innovation and data-driven portfolio management aligns perfectly with our vision for the ATHENA Platform. Their adoption of both the Investment Data Platform and Portfolio Navigator reflects a forward-looking approach to operational efficiency and client outcomes — one that positions them strongly for continued growth in a rapidly evolving market.

By partnering with ICS, PPM joins a growing number of investment firms recognising the need for modern, cloud-native solutions to manage increasingly complex data challenges. As the industry evolves, investment managers are seeking greater automation, scalability, and efficiency in their operations to stay focused on business outcomes that matter to their clients. This collaboration reinforces the importance of transforming investment data management to drive better insights, stronger governance, and long-term success.

For further information please contact:

Nicolas Portet
Head of Marketing
Phone: (02) 8256 3702
Email: nportet@ppmfunds.com

About PPM:

Founded in 1995, Private Portfolio Managers Pty Limited (PPM), is a privately owned boutique investment manager with a well established track record of constructing concentrated Australian Equities, Global Equities and Multi-Asset portfolios for our clients and their financial advisers. Our investment objective is to grow our clients’ portfolios over the long term using a disciplined & well researched investment process which seeks protection of capital with risk assessed tax effective returns. PPM offers Individually Managed Account (IMA) and Separately Managed Account (SMA) investment solutions across a number of broad investment strategies including balanced, income and growth style portfolios. For more information about PPM and our services please visit our website at www.ppmfunds.com.

About ICS:

ICS transforms investment organisations. Through ATHENA, our cloud-native investment platform, we enable data driven decisions and portfolio driven success. With an intuitive no-code interface ATHENA offers a cost-efficient solution for modern investment data management and asset allocation. It provides unparalleled automation and scale for our clients to support them in their differentiation and growth plans.

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The IMAP recognition places PPM among an elite group of Australian fund managers, with the Institute of Managed Account Professionals representing the peak industry body for separately managed accounts and portfolio management services.

The milestone year has been marked by strong third-party validation, with PPM’s Global Equities Growth Portfolio awarded a 4.25/5 star rating by SQM Research in 2025, complementing the IMAP industry recognition.

Three Decades of Consistent Performance

“Reaching our 30th anniversary while receiving our fifth IMAP recognition validates everything we’ve built over three decades,” said Hugh MacNally, Founder, Chief Investment Officer and Executive Chair of PPM. “This consistent industry recognition demonstrates that our research-driven, disciplined approach delivers value across all market conditions – exactly what we promised investors when we started this journey in 1995.”

“Our vision at PPM has always been simple: provide Australian investors with direct access to institutional-quality portfolio management,” MacNally explained. “Three decades later, that philosophy remains unchanged, but our track record now speaks for itself. Five IMAP recognitions since 2019 isn’t luck – it’s the result of consistent application of proven investment principles.”

Proven Investment Philosophy Drives Recognition

PPM’s repeated recognition stems from its unwavering commitment to fundamental analysis and long-term value creation. The firm’s international equities strategy focuses on companies that meet PPM’s valuation and return expectations over the medium to long term.

“Our approach can be characterised as Growth at Reasonable Price or GARP, where we seek as much growth as we can, but moderate this with a constraint on the price we are willing to pay for that growth. Additionally, investments are to have a strong financial structure, one that will allow them to weather the inevitable and unpredictable periods of difficult economic conditions,” added MacNally.

Building for the Next Decade

As PPM enters its fourth decade, the firm’s vision remains clear: every investor should have access to institutional-quality portfolio management built on the same rigorous investment methodology that has delivered consistent performance. Regardless of whether investors work directly with PPM or through their trusted financial adviser, they benefit from identical research standards, investment philosophy, and the experience gained from navigating multiple market cycles over three decades.

¹ PPM was shortlisted for Best International Equities managed account in 2019, 2022, 2023, 2024, 2025.

For further information please contact:

Nicolas Portet
Head of Marketing
Phone: (02) 8256 3702 | Mobile: 0472 536 000
Email: nportet@ppmfunds.com

About PPM: Founded in 1995, Private Portfolio Managers Pty Limited (PPM), is a privately owned boutique investment manager with a well established track record of constructing concentrated Australian Equities, Global Equities and Multi-Asset portfolios for our clients and their financial advisers. Our investment objective is to grow our clients’ portfolios over the long term using a disciplined & well researched investment process which seeks protection of capital with risk assessed tax effective returns. PPM offers Individually Managed Account (IMA) and Separately Managed Account (SMA) investment solutions across a number of broad investment strategies including balanced, income and growth style portfolios. For more information about PPM and our services please visit our website at www.ppmfunds.com.

Anniversary Performance Highlights

• 30 years of consistent portfolio management since 1995
• 5th time shortlisted by IMAP for Best International Equities managed account since launching the strategy in 2017 (2019, 2022, 2023, 2024, 2025).
• Strong SQM Research ratings: Global Equities Growth SMA awarded 4.25/5 stars in 2025 – (‘Superior’)
• Strong track record: Performance² as at 31/08/2025

²Performance returns are before fees and taxes and are based on the actual aggregate performance of the PPM Global Equities Growth Individually Managed Account (IMA) portfolios prior to the inception date of the SMA and the actual performance of the Global Equities

About IMAP: Institute of Managed Account Professionals (IMAP) is the only industry organisation for advisers, managers, providers and other businesses actively involved in offering or supporting Managed Accounts. https://imap.asn.au/about-us.html

About SQM Rating: The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme. https://sqmresearch.com.au/

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This strategic hire follows PPM’s recent achievement of impressive inaugural ratings from SQM Research for its managed account portfolios. The firm’s Global Equities Growth SMA secured a 4.25/5 star “Superior” rating with a “High Investment Grade” designation, while the Australian Equities Growth SMA achieved a 3.75/5 star “Favourable” rating classified as “Investment Grade.”

Shaun will report to Warren Jones, who was recently promoted to Head of Financial Adviser Distribution, and will focus primarily on growing adviser relationships for PPM’s SMA offerings, which are currently available on the HUB24 platform.

Hugh MacNally, Executive Chairman at PPM, commented, “As we continue to build on the momentum from our strong SQM ratings, expanding our distribution capabilities is a natural next step. Shaun’s appointment demonstrates our commitment to growing our presence in the adviser channel and providing exceptional service to financial advisers seeking high-quality managed account solutions for their clients.”

Shaun brings over 15 years of experience in business development and relationship management within the financial services industry. Prior to joining PPM, he served as Business Development Manager at Aware Super, where he significantly increased growth by signing new financial advisors and licensees, managing a substantial portion of the NSW network. His experience also includes roles at AMP, where he substantially increased sales and ranked 2nd nationally among all BDMs for new business applications, as well as positions at Zurich, La Trobe Financial, and Commonwealth Bank.

“I’m excited to join PPM at such a pivotal time,” said Shaun. “The independent validation from SQM Research underscores the strength of PPM’s investment approach, and I look forward to helping more advisers discover the benefits of these highly-rated managed account solutions for their clients.”

PPM’s managed account portfolios follow a disciplined Growth at Reasonable Price (GARP) approach, focusing on companies with superior cash return on invested capital characteristics, conservative balance sheets, and rational competitive dynamics.

Financial advisers interested in learning more about PPM’s SQM-rated managed accounts can contact Warren Jones at wj@ppmfunds.com or Shaun Purcell at spurcell@ppmfunds.com.

About PPM

Founded in 1995, Private Portfolio Managers Pty Limited (PPM), is a privately owned boutique investment manager with a well established track record of constructing concentrated Australian Equities, Global Equities and Multi-Asset portfolios for our clients and their financial advisers. Our investment objective is to grow our clients’ portfolios over the long term using a disciplined & well researched investment process which seeks protection of capital with risk assessed tax effective returns. PPM offers Individually Managed Account (IMA) and Separately Managed Account (SMA) investment solutions across a number of broad investment strategies including balanced, income and growth style portfolios. For more information about PPM and our services please visit our website at www.ppmfunds.com.

About SQM Research ratings:

The ratings contained in this document are issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.

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SYDNEY, AUSTRALIA – [March 28, 2025] – Private Portfolio Managers Pty Limited (PPM), a boutique investment manager with a long-standing history of delivering consistent performance for clients, today announced its managed account portfolios have received their inaugural ratings from SQM Research, one of Australia’s most respected investment research houses.

In PPM’s first submission for SQM evaluation, the Global Equities Growth SMA received an impressive 4.25 out of 5 star rating, while the Australian Equities Growth SMA was awarded 3.75 out of 5 stars.

“These strong inaugural ratings validate the investment process and philosophy we’ve refined over many years,” said Hugh MacNally, Executive Chair and Chief Investment Officer at Private Portfolio Managers. “While our long-term clients have benefited from our approach for years, these independent SQM ratings now provide financial advisers, clients and new investors with additional confidence in our managed account solutions.”

SQM Research Pty Limited is a leading investment research house specialising in providing ratings and reports on managed funds, listed and unlisted products, and property investments. Their rigorous evaluation process examines investment processes, risk frameworks, performance track records, and organisational structures.

The ratings come at a time when managed accounts continue to gain popularity among financial advisers seeking transparent, flexible investment solutions for their clients. Both PPM strategies are available on the HUB24 platform, making them easily accessible for advisers already using this leading investment and superannuation platform.

PPM’s Global Equities Growth SMA aims to provide investors with long-term capital growth and income through a concentrated portfolio of high-quality global companies. The Australian Equities Growth SMA follows a similar approach focused on domestic companies.

“These ratings affirm what our track record has shown for years – that our disciplined investment process delivers results across different market segments,” said Warren Jones, Head of Financial Adviser Distribution at PPM. “Our focus has always been on identifying quality companies with strong fundamentals and competitive advantages, regardless of market conditions.”

According to SQM Research’s rating scale:

• The 4.25 star rating for the Global Equities Growth SMA is classified as “Superior” and indicates “High Investment Grade.”
• The 3.75 star rating for the Australian Equities Growth SMA is classified as “Favourable” and indicates “Investment Grade.”

If you are interested in learning more about PPM’s SQM-rated managed accounts please contact:

Warren Jones
Head of Financial Advisor Distribution
email: wj@ppmfunds.com

Mobile: 0422 819 116

About PPM

Founded in 1995, Private Portfolio Managers Pty Limited (PPM), is a privately owned boutique investment manager with a well established track record of constructing concentrated Australian Equities, Global Equities and Multi-Asset portfolios for our clients and their financial advisers. Our investment objective is to grow our clients’ portfolios over the long term using a disciplined & well researched investment process which seeks protection of capital with risk assessed tax effective returns. PPM offers Individually Managed Account (IMA) and Separately Managed Account (SMA) investment solutions across a number of broad investment strategies including balanced, income and growth style portfolios. For more information about PPM and our services please visit our website at www.ppmfunds.com.

About SQM Research ratings:

The ratings contained in this document are issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.

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PPM has been providing investment management through Individually Managed Account (IMA) services to clients for over 20 years. In October 2017, PPM moved to offer this same expertise via the PPM Global Equities Growth SMA to clients of advisers through platforms.

“We believe the PPM SMA offering to be a really good product. What it does is offer total transparency to the client and we think that transparency is absolutely vital. Clients really need to know what assets they hold and with an SMA they can see every stock that’s in the portfolio. It gives the client a clear view that the Investment Manager is doing what they say they’re doing.”

PPM SMAs are suitable for individual investors who want to be able to access PPMs professional investment management expertise via a proven investment model.

PPM SMA Investors retain the benefits of direct ownership including transparency and portability without the hassles of managing their investments directly. All portfolio administration is undertaken by the platform provider, including dividends, corporate actions, tax record- keeping and reporting. Existing investments can easily be transferred into (or out of) a PPM SMA without triggering capital gains tax consequences.

For further information please contact (02) 8256 3777

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“We are extremely pleased that the well-established investment philosophy of PPM has been recognised through our Global Equities Growth SMA” said Hugh MacNally, Executive Chairman and founder of PPM.

PPM has been providing investment management through Individually Managed Account (IMA) services to clients for over 20 years. In October 2017, PPM moved to offer this same expertise via the PPM Global Equities Growth SMA to clients of advisers through platforms.

“We saw the demand towards a more transparent investment model increasing and took the opportunity to provide our well tested investment management expertise to retail investors using the technological and administrative benefits of platforms.” said Mr MacNally.

PPM Global Equities Growth SMA is an actively managed, concentrated portfolio of international equities listed on major global exchanges. The SMA is risk managed to protect investor capital and take equity positions in companies that have been identified through a ‘top down’ thematic filter to identify sectors and opportunities. This is combined with a ‘bottom up’, deep research driven process to assess those companies that offer superior growth prospects over a 5 year term.

As at 30th April 2019, the PPM Global Equities Growth SMA generated a return of 20.5% over a year and 11.1% over ten years before fees. An SMA provides advisers with a low-cost retail solution for clients to access global equities exposure without the hassle of dealing with international exchanges and currency challenges.

For further information please contact 02 8256 3777

Private Portfolio Managers Pty Ltd (PPM) is a privately owned boutique investment manager founded in 1995 with an established track record of constructing concentrated Australian and Global equity portfolios.

The information above has been provided for general information purposes and must not be construed as investment or professional advice. PPM suggests you consider obtaining professional advice before making any investment decisions. The financial services described do not represent a deposit or a liability and are subject to investment risk including possible loss of income and capital. Neither PPM nor its directors, employees or any associate guarantee the repayment of capital, payment of income or any portfolios performance. Past performance is not necessarily indicative of future returns.© 2019 Private Portfolio Managers Pty Limited ABN 50 069 865 827 AFS Licence No. 241058

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PPM utilises a value investing philosophy in the belief that attractive long-term investment returns will be achieved by investing in companies that are financially strong, operate in an industry that has an attractive structure and are favourably priced. The philosophy can be summed up as ‘strength and value’. This philosophy has been proven over time with a long track record demonstrated in the performance figures shown above. A concentrated, high conviction portfolio of exceptional global companies works to provide consistent performance over the long term.

An attractive transparent alternative to unitised global equity managed funds, the PPM Global Equities Growth SMA provides much needed diversification for investors in the highly concentrated Australian share market. With its direct holdings of assets, fee transparency and individual cost bases for each listed security, investors in the PPM Global Equities SMA do not incur the tax consequences as a result of other investors’ transactions or prior capital gains unlike those within a unit trust structured managed fund.

Offered through the leading platforms of Hub24, OneVue and Powerwrap, the PPM Global Equites SMA takes the hassle out of direct international investing, with the platform undertaking all execution, global custody and corporate actions whilst providing detailed consolidated reporting for clients and their advisers via online portals.

Contact us at ppm@ppmfunds.com or (02) 8256 3777 and ask about how SMA’s can work for your clients and improve your business.

Private Portfolio Managers Pty Ltd (PPM) is a privately owned boutique investment manager founded in 1995 with an established track record of constructing concentrated Australian and Global equity portfolios.

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Comment by Hugh MacNally, Chairman and Founder of Private Portfolio Managers

PPM has held the view that Telstra is very well place in the Australian telecommunications industry as it moves to the new 5G technology. The company is held in our portfolios.

The comments made by Vodafone’s Australian CEO, reported in the Australian today, indicate how much pain is being suffered by Vodafone (and we believe Optus). Telstra the dominant player with 50% mobile share has an enormous advantage in such a high capex business. Add to this they have had the luck to not use the banned Huawei equipment which Optus and Vodafone (and TPG) use.

The Vodafone CEO, Inaki Berroeta, made some interesting comments about the amount of capital required and the declining revenue per customer. This is the nub of the problem for Optus and Vodafone, the return on capital is unsustainably low and for Vodafone it is almost non-existent. There is only one solution to their problem and that is to raise prices so they can make an adequate return on capital; Mr. Berroeta said as much.

PPM has been of the view that this is an inflection point for Telstra, as it was when 4G came in in 2011, and that dividends will start to rise when rational competition appears – Mr. Berroeta seems to be making a plea for that to happen.      

Discover more about how you can access Australian and Global equities through a PPM SMA by contacting us at ppm@ppmfunds.com or (02) 8256 3777

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Larger, global companies are also a way to access exposure to emerging markets where these companies are doing business rather than having to invest direct into those markets.

A Separately Managed Account (SMA) provides significant benefits for investors when accessing global investments due to its more transparent and individual ownership structure.

With a minimum of $50,000 investors can access direct ownership of a global equity portfolio professionally managed by an experienced investment manager with a proven capability in generating strong risk adjusted returns over the medium and long term.

In contrast to investing in a managed fund, investors have complete transparency over their holdings, do not have their tax position affected by other investors and an individual cost base is established for each investment.

An SMA is a great way for Advisers to continue to offer direct equity portfolios to their clients while gaining significant time and cost savings by outsourcing the management, execution and reporting. The PPM Global SMA makes investing in global equities easy and efficient and is currently available through the HUB24, Powerwrap and Onevue platforms.

All portfolio administration is undertaken by the platform provider, including dividends, corporate actions, tax record- keeping and reporting. Existing investments can easily be transferred into (or out of) a PPM SMA without triggering capital gains tax consequences. Investors receive annual reporting and have online access 24/7 to the holdings of their SMA portfolio.

Discover more about how you can access global equities through an SMA by contacting us at ppm@ppmfunds.com or (02)8256 3777.

Private Portfolio Managers Pty Ltd (PPM) is a privately owned boutique investment manager founded in 1995 with an established track record of constructing concentrated Australian and Global equity portfolios.

*17.2% pa performance for the 12 months to 28th February 2019 before fees and taxes.

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