IT was reported 10 years ago that former federal opposition leader Dr John Hewson would run new resource funds management business, Churchill Funds Management, owned by Churchill Resources, a Perth-based resources investor headed up by Brett Fogarty and Patrick O’Connor. Dr Hewson was to chair the new subsidiary in the role of executive director along with director Bruce Thomas, a former fund manager with Rodney Adler’s FAI Insurances Group. The management group plans to start operations with between $50 million and $75 million in cash raised through Gold and Resources Investment, a new entity.