If memory serves me well the original boutique Contango business...

If memory serves me well the original boutique Contango business was backed by a Packer too and that didn't go to well. They used to be located at 360 Collins Street, Melbourne and someone managed to get the bloody great marble topped WMC (Western Mining Corporation) board room table as part of their lease package which was impressive but their investment performance wasn't as impressive.

When someone mentions Packer and finance services, Challenger Finance comes to mind as well. Anyone remember them? Besides the not so small chunk of Macquarie Bank that the Packer family have.

The Geoff Wilson's and Chris Cluff's of this world might have done well a decade or so ago and been living off their names ever since but Contango Asset Management has some recovery work to do for a few and this sounds like a reinvention of the past with a new Packer backer. Might sit it out for now and see how they go with their ETF later in the year.

Good luck to those already in.