ANZ buys Optimix from UBS Global Asset Management
ANZ has purchased the OptiMix multi-manager business unit from UBS Global Asset Management, the bank has confirmed.
The acquisition of OptiMix is part of ANZ's broader strategy to offer a suite of multi-manager single-sector and multi-sector funds.
The business first came under the ownership of UBS Global Asset Management in June 2011 as part of its acquisition of ING Investment Management.
With ANZ's purchase of OptiMix', its intellectual property, business assets and key staff will move to the bank.
"The acquisition of OptiMix will not impact customer accounts or their investments," ANZ's spokesperson said in a statement.
Furthermore, the purchase does not include the OnePath single-sector funds managed by UBS Global Asset Management through the purchase of ING Investment Management.
Research house Standard & Poor's has issued a statement saying its rating of multi-sector products available through OptiMix would remain unchanged and on hold, pending the researcher's formal review of these capabilities.
AUTHOR
Milana Pokrajac
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