Street Talk

Bennelong-backed Touchstone AM shuts its doors after a decade

Sarah Thompson, Kanika Sood and Emma Rapaport

Updated Jul 29, 2025 – 5.35pm, first published at 3.03pm

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Last month, Touchstone Asset Management said it was closing its flagship fund but very much staying in business to look after about $1 billion in Australian equities invested on behalf of institutional clients.

Well, things have changed. The Bennelong Funds Management-backed boutique is closing its doors, joining a lengthening list of firms shutting down this year as major investors increasingly pull their mandates.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.