Aurora starts with distribution
Aurora Funds Management (AFM) — the brainchild of formerChallenger Internationalexecutives Alistair Davidson, Simon Lindsay, Hugh Latimer and Richard Matthews — came into existence back in May 2003.
The group is yet to release any funds to market, but, according to Latimer, has been successful in growing distribution capabilities during its first six months of operation.
Last November, AFM unveiled a new initiative — Aurora Distribution — to assist fund managers and investment product manufacturers without access to strong distribution channels in gaining access to retail investors. Shortly after, the group struck a deal withvan Eyk Researchand White Funds Management (WFM) in relation to the distribution of Granite Three Pillars — a listed investment company (LIC) scheduled to float this month.
Latimer says AFM provides third-party adviser distribution to firms with limited access to this part of the industry. He adds that this enables AFM to also assist companies during initial public offerings (IPOs) to access potential shareholders.
He says the distribution business is “a natural fit” for the group, which is also contemplating other launches.
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
