Two investors for Charlie Aitken's firm have withdrawn millions this year alone Kerry Stokes bought a 19.99 per cent stake in the business in 2017, sold this yearChristopher Nasser's family sold $7.5million after his wife started dating AitkenAitken's own wife, Ellie, has also started a new role at a competitor this year
The investment banker who moved on with his wife’s best friend is suffering significant financial blowback from the scandal gripping Sydney’s high-society.
One of Charlie Aitken’s biggest investors was his new flame Hollie’s husband Christopher Nasser and his family, who have reportedly pulled out $7.5 million worth of stocks from his firm.
The withdrawal of funds comes just months after another major backer billionaire Kerry Stokes also sold his 19.99 per cent stake in Aitken Investment Management.
The billionaire Seven Group executive first invested in the firm in 2017, appointing his trusted colleague, Warwick Smith, to the board of directors.
Mr Smith resigned from his position in July 2021, the same month Mr Stokes announced his intention to step away from the business.
It’s understood AIM’s portfolio had a tough year in 2019 before a reshuffle of the team and tactics boosted returns.
The high profile investment banker is in the midst of a bitter split after separating from his wife of 19 years and moving on with her younger best friend – who was also married to his business partner
Hollie was all smiles when she stepped out on Tuesday, leaving her eastern suburbs home in her black Audi SUV
In mid-November, shortly after learning of Mr Aitken’s new relationship with his wife, Mr Nasser stepped down from his position on the AIM board.
He was replaced by his younger brother, Damien, but that didn’t stop the Nasser family from reportedly selling $7.5million worth of stocks they had in the firm.
Mr Nasser was a founding backer and is said to have poured up to $10million into the firm since it opened in 2015.
In addition to losing multiple high profile investors, co-founder and former executive director Ellie Aitken stepped down from her position and joined a rival firm in September.
Ms Aitken has taken on a role as director of distribution at Pallas Capital, where she is tasked with growing the business investor base with high-net worth individuals and wealth managers.
Ellie Aitken and Hollie Nasser pictured together. ‘I can confirm I am separated from Ellie Aitken and am in a relationship with Hollie Nasser,’ Charlie Aitken said
Hollie is now dating investment banker Charlie Aitken. Her husband, his former business partner Christopher Nasser, reportedly pulled $7.5million from Mr Aitken’s firm
Ms Nasser wore a black dress and heels as she left her home in Sydney’s east on Tuesday
She remains a director on the board at Aitken Investment Management.
In a ‘Staff Spotlight’ article for her new company, Ms Aitken thanked Pallas Capital for taking her on, detailing her long list of credentials.
‘I’ve felt warmly welcomed by the team, for which I’m very appreciative,’ she said.
‘I began my career as a financial research associate at JP Morgan. I subsequently practised as a solicitor in the mergers and acquisition group at Clayton Utz… specialising in property and funds management.’
While the losses may come as a blow to Mr Aitken, his new love Hollie looked cheerful when she stepped out of her multi million dollar marital home on Tuesday.
Wearing a black mini dress and heels, Hollie smiled as she made her way to her Audi SUV.
Ms Aitken stepped down from her role as executive director and – in another headache for Mr Aitken – joined a competitor
AIM’s primary fund, the Global High Conviction Fund, delivered a return of 3.9 per cent last month.
This is 0.3 per cent higher than the benchmark return of 3.6 per cent.
For the September quarter, a one-year return of 22.7 per cent was recorded – significantly lower than the 27.8 per cent benchmark return rate.
The fund returned 57.6 per cent over the course of three years, compared to a benchmark 56.1 per cent.
On an investment worth an estimated $10million, that data indicates Mr Nasser made an additional $150,000 over the life of the investment.
The investment portfolio follows a ‘quality strategy’ which avoids investing in brands with poor balance sheets, high risk companies or ‘deeply cyclical businesses’.
Their life of glitz and glamour suddenly came tumbling down after it was revealed Ms Nasser had been in a relationship with Mr Aitken (pictured, Ellie and Charlie Aitken left and Hollie and Christopher Nasser right)
Kerry Stokes sold his 19.99 per cent stake in the business in July 2021, after investing in 2017
AIM notes the market ebs and flows, but claims ‘over a full business and investment cycle, we believe a quality strategy will outperform the market, mainly because it should protect the downside during periods of distress and keep up with or outperform the market during periods of growth’.
This allows the portfolio to outperform expectations during periods of market distress, but means it may underperform at other times of the year.
‘A fundamental-based quality investment strategy should deliver superior risk adjusted returns over multi-year periods by owning what are in effect compounding machines,’ the business states.
A minimum investment of $20,000 is required to enlist the services of AIM, with regular $5,000 top ups.
AIM takes a fee of 1.43 per cent plus a 10 per cent cut of and profits above the benchmark.
The glamorous lawyer, wealthy funds manager, investment banker and socialite: Inside the drama-filled lives of two high society couples as a scandalous love triangle tears them apart
Hollie Nasser was all smiles when she stepped out in a black dress and heels combo on Tuesday
Ms Aitken revealed on Tuesday she’d be taking a step back from the public eye as she comes to terms with her separation from her investment banker husband.
‘The truth is that despite the support of friends and family I have not coped well with the deeply hurtful lies, gossip and innuendo that has surrounded the breakdown of my relationship,’ she said.
‘I attempted to put on a brave face and tried to manage my feelings and wellbeing despite the fact that I have not had any control over the reasons for my sorrow.’
Mutual friends have reportedly ‘distanced themselves’ from both Mr Aitken and his new love, Hollie Nasser – the wife of Mr Nasser.
Many are said to be ‘horrified with the nature of what’s gone on’.
‘We’ve all distanced ourselves as much as we can,’ one friend of Mr Nasser’s told Daily Mail Australia.
Mr Aitken and his wife Ellie had been long-time friends of the Nasser’s, and Mr Nasser was a director of the Aitken’s wealth management company before pulling $7.5million this month
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