Aust Unity flags expansion plans
The investment management arm of Australian Unity has flagged that it will expand its product range early in 2005, both through in-house development and possible joint ventures.
“Our approach is to partner with organisations that have existing expertise that we need to broaden our product range,” Australian Unity general manager investments David Bryant said in a statement issued yesterday.
“We also plan to use in-house expertise to develop other Australian Unity mortgage and property investments - for example expanding on our specialized range of property funds.”
Australian Unity, which owns 50 per cent of boutique fund manager Acorn Capital, has ridden the wave of increased interest in smaller, independent boutiques, with its investment management arm increasing funds by 23 per cent in 2004 to $2.7 billion.
“We are earning a place in portfolios because our products can offer something that is different to mainstream providers, and appealing to a wide range of investors,” Bryant said.
Bryant said the group would start introducing new products in the first quarter of 2005.
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