Zurich partners with asset managers
Zurich Financial Services Australiaannounced today it has introducedDeutsche Asset Management’s Australian Equities Alpha process for its diversified funds, and formed a partnership withConstellation Capital Managementto manage its Australian equity portfolio.
Zurich Australia’s director of investments, Matthew Drennan, says, “The new managed equity fund initiative reinforces Zurich Australia’s flexible business model of forming strategic partnerships with specialists in key asset classes.”
The introduction of the Deutsche process for Zurich’s diversified funds, which comprise approximately $1 billion funds under management, is aimed at delivering diversified managed equity funds with low volatility in returns.
“Our objective is for clients to benefit from the track record of the Deutsche Australian Equities Alpha Fund, which has delivered solid performance since its inception and is highly rated by research houses,” Drennan says.
On the specialist Australian equities side, Constellation, which is ‘A’ rated by van Eyk, will be applying a risk controlled value approach to Zurich’s $300 million Australian equities portfolio.
“We want to leverage off the positive track record of the Constellation team as part of Zurich Australia’s initiative to enhance investment returns for clients. Constellation will continue to offer separately managed accounts to institutional clients, while Zurich will be the exclusive provider of Constellation’s risk controlled value Australian equities product for other invetors,” Drennan says.
A letter of intent has been signed between the parties and the transfer of funds is expected to occur on the completion of the due diligence process and a requisite client notification period, anticipated to be completed in mid-May.
Recommended for you
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
Betashares has named the top Australian suburbs with the highest spare cash flow, shining a light on where financial advisers could eye out potential clients.
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.