Evans Dixon defends business model

Jonathan Shapiro and Carrie LaFrenz

Updated Apr 17, 2018 – 10.54am, first published at Apr 16, 2018 – 11.00pm

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Evans Dixon, the $18 billion wealth adviser created by the merger of Dixon Advisory and Evans & Partners, has dismissed suggestions its business is over-reliant on a billion-dollar US property fund that raked in more than $50 million of fees from investors during the last financial year.

A spokeswoman for the fund said that the $52 million of fees generated from the listed US Masters Residential Property Fund accounted for 7.6 per cent of net assets of $688.9 million, and 3.8 per cent of gross value of assets of $1.37 billion at the end of 2017.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.