Ironbark Asset Management (‘Ironbark’) is delighted to announce that it has reached an agreement with leading Australian Equities manager Karara Capital Limited (‘Karara’).

The agreement will see Ironbark partner with Karara to launch the Ironbark Karara Australian Share Fund early in 2010. The arrangement is for exclusive distribution into the retail market and will involve Ironbark appointing Karara to manage the underlying assets of the Ironbark Karara Australian Share Fund.

Karara was established in April 2007 and manages over $1bn FUM and is independently owned by staff.

CEO of Ironbark, Chris Larsen said “We are delighted to have been able to forge a partnership with one of Australia’s leading Australian Equities managers. Karara have been very successful in the Institutional market and we are delighted to be working with them to achieve similar success in the retail space.”

“Our business model is all about partnering with best in class managers in each asset class. Obviously Australian Equities is an incredibly important asset class for us. We wanted to work with a partner who possessed a strong brand, process, philosophy and performance. Karara did that so it’s very exciting for us to announce this partnership” Larsen added.

Alex Donald, Investment Specialist for Ironbark added, “Karara has been running this Australian shares strategy for almost three years and is currently highly rated* by van Eyk Research, so we will be in a position to talk to IFAs and platforms early next year. Karara’s style of investment management and moreover their results have been first class. They have a consistent record of adding value to investors’ portfolios in all market conditions. We believe the Ironbark Karara Australian Share Fund could play an important role in the portfolios of clients seeking consistent and repeatable alpha in Australian Equities.”

Donald added, “We have been talking to Karara about additional products, such as a Small Companies Fund, which we are planning to launch in 2010.”

Managing Partner of Karara, David Slack, said “The firm is excited to work with Ironbark as we believe they have the resources and capabilities to support our products in the retail market.”

“The Australian retail market is a large space and is highly competitive. However our proven style-agnostic investment approach has consistently delivered alpha to clients over the past 24 years and we are now delighted to be able to offer our products to retail customers. We have a highly experienced team who have a singular focus of delivering above market returns to clients. Partnering with Ironbark allows us to leverage this core strength while maintaining our focus on investing.”

Please refer to the Media Release for further information.