Peter Cooper, one of the country’s most prominent investors, has taken control of his firm’s troubled $6 billion Australian Equities Fund after it posted a loss of more than 10 per cent last year.

Cooper Investors manages more than $14 billion across its various strategies, including its flagship Brunswick Fund, primarily for institutional clients. Cooper, whose fortune tops $725 million according to the Financial Review Rich List, has told staff he is making several leadership changes.