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ANZ sells stake in Australian JV

ANZ Array funds

4 May 2017

| By Oksana Patron |

Funds management

ANZ has announced it will sell its stake in the Australian joint venture, ANZ ETFs with ETF Securities Group taking full ownership.

According to ANZ’s managing director, institutional, Shayne Collins this decision was based on ANZ’s desire to “simplify the institutional business, and increase focus on supporting client trade and capital flows across the region”.

This meant that ANZ ETFs, which was launched in 2015, would be rebranded as ETF Securities Australia, as a wholly-owned subsidiary of the ETF Securities Group, which is run by Graham Tuckwell and has US$22 billion in assets under management and currently operates in the US, Europe and Australia.

”Australia is an important part of our global strategy and we are keen to make our group’s expertise and resources available to the Australian market and to help local investors achieve their investment goals,” Tuckwell said.

The ETF Securities Group would plan to build on ANZ ETFs’ initial success, with an aim to make it “a leading independent and specialist provider of accessible, transparent and cost effective investment solutions for Australian investors”.

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The firm would continue to be led by Kris Walesby, the current head of ANZ ETFs.

“We are committed to delivering an ambitious programme of new products which we expect to start rolling out over the remainder of 2017,” Walesby said.

“We already have a strong foundation here with 13 ETPs [exchange traded products] listed on the ASX [Australian Securities Exchange] (eight launched under the ANZ ETFs name and five existing ETF Securities products) and I’m incredibly excited to have a pipeline of innovative, cost-effective solutions to share with Australian investors.”

AUTHOR

Oksana Patron

Oksana was Associate Editor at Money Management and Super Review. She has several years of experience in writing market and sector reports for investors as well as covering public companies and ICT sector for various publications in Europe and Australia.

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