Employees buy Julius Baer Investments Limited
Specialist fixed income and currency manager Julius Baer Investments Limited has been acquired by a group of managers and employees of holding company Julius Baer Holdings.
The group has taken a 90 per cent equity stake in the UK-based subsidiary, which, effective from January 11, has been renamed Augustus Asset Managers Limited (AAML), with total assets under management of about US$9 billion.
AAML, which in Australia has a partnership with Sydney-based manager Aurora Funds Management, will continue to be managed by a management committee headed up by president Edward Dove and chief executive Tim Haywood.
The partnership involves Aurora Funds Management providing AAML with the infrastructure and administration for the Australian domiciled fixed interest fund — Aurora Absolute Return Fund.
AAML will continue to focus on the fixed income and currency asset management products that were developed as Julius Baer Investments Limited, according to Dove.
“We will continue to build our business across the entire spectrum of fixed income and currency products, from long-only to absolute return and single strategy hedge funds.”
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
