Acadian, Axa Rosenberg boost Oz presence

By Zoe Fielding

Two international fund managers are increasing their presence in Australia with Acadian Asset Management and Colonial First State forming a joint venture, and AXARosenberg announcing plans to expand.

Both managers operate quantitative global equity investment models.

Colonial First State chief executive John Pearce said Colonial had been interested for some time in entering the quantitative space, having observed the successes of other quantitative fund managers, such as Barclays Global Investors and GMO.

The 50-50 partnership will give Colonial exclusive rights to distribute the Boston and Singapore-based fund manager’s equity products in the Australian retail market.

The new entity, Acadian Asset Management (Australia), will be managed separately from Colonial First State with its own board and portfolio management team.

Pearce said the first task for the new business would be to develop an Australian equities product with a quantitative investment approach to add to Colonial’s existing growth and core investment strategy equities products.

The partnership extends on a deal Colonial signed with Acadian last month to distribute the fund manager’s global equities products in Australia.

AXA Rosenberg, which has offices in North America, Europe and Asia, is also expanding its Australian operations.

Nicholas Smith, head of marketing and sales for Asia-Pacific, and Doug Burton, head of client services for the Americas, will relocate to Sydney over the next few months.

Smith will be responsible for developing local business, while Burton will focus on investment mandates, and assets invested in Australia and New Zealand.