Henderson takes 90 West AM stake
UK-based fund manager Henderson Global Investors has acquired a 33 per cent stake in specialist Australian natural resources investment management firm 90 West Asset Management.
The transaction was announced today, with Henderson saying that in addition to acquiring its equity position the two companies had entered into an exclusive global distribution agreement.
90 West Asset Management was founded in 2008 by Clive Landale, who was joined in mid-2011 by the head of global resources at Colonial First State, David Whitten.
Commenting on the arrangement, Henderson Australia chief executive Andrew Formica said it represented the first transaction following the Henderson Board giving approval of a strategic plan for the development of an Australian business for Henderson.
"It confirms the strategic intention to build a strong Australian business through the distribution of relevant existing investment capabilities and by building new, contemporary capabilities locally that have global utility," he said.
Recommended for you
The struggle to recruit specialist expertise in alternative asset classes means senior analyst salaries are surpassing $200,000 as fund managers compete for talent, observes Kaizen Recruitment.
TWC Investment Management, which launched in September, has unveiled a long-only equity fund targeting global wealth creator stocks.
As thematic ETFs gain popularity among advisers, research houses have told Money Management of their unique challenge to rate these niche products and assess their long-term viability.
Magellan Financial Group’s chief financial officer and chief operating officer Kirsten Morton is set to depart from the asset manager after more than a decade.
