Merc joins global movement
The rapid globalisation of the Australian funds management market continues un-abated, this time with the launch of ING funds by Mercantile Mutual.
The rapid globalisation of the Australian funds management market continues un-abated, this time with the launch of ING funds by Mercantile Mutual.
Mercantile Mutual joins a growing crowd of Australian fund managers who are using joint branding on international funds. Others include Macquarie (who use Lazard), Perpetual (who use Fidelity) and Rothschild (who use Putnam).
Unlike those managers, Mercantile Mutual will be using its parent company as the investment manager for a new range of international funds to be launched this week. Mercantile Mutual also launched a national television campaign recently which associates Mercantile Mutual with its Dutch based parent.
Five ING funds will be distributed through Mercantile Mutual’s multi-channel network. Three regional funds will cover Europe, Japan and Asia while two sector specific funds will cover global technology and global brands.
The funds will be set up and run in Australia but stock selection in the global tech-nology, global brands and European trusts will be managed by ING’s international teams in Europe. For the Asia and Japan funds, a team based in The Hague, Singa-pore, Sydney and Tokyo will manage stock selection and country allocation for the Asian fund.
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