AUI enters fifth joint venture
Australian Unity Investments (AUI) has announced its fifth joint venture, this time with new Asian equities boutique fund manager Seres Asset Management.
Seres, based in Hong Kong, will adopt an active, benchmark-unaware approach to Asian equities.
AUI will distribute Seres’ products in Australia to both the institutional and retail markets, with the first Seres Asian equities fund to be launched in Australia at the beginning of 2010.
It will initially only be available to Australian investors, according to an AUI statement.
Seres will have an initial focus on Greater China, Korea and Singapore, but will later expand to include areas such as India.
AUI head David Bryant said AUI had been considering adding Asian equities opportunities for some time.
“We have seen Asian equities do very well recently and we believe this is a long-term trend, which Australian investors should be building into their portfolios.
“We believe that there are outstanding opportunities in this region for investors”, Bryant said.
Seres’ new chief financial officer will be Evan Erlanson, who most recently worked with Bear Stearns Asia in Hong Kong and earlier with Goldman Sachs in Singapore, while the company’s senior portfolio manager, Dr Ken Lu, has Asian equities research experience, working with JP Morgan and Credit Suisse.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
