Magellan in key acquisitions
Leading Australian funds manager, Magellan Financial Group has announced two key acquisitions aimed at increasing its reach in both Australia and the US.
The company announced to the Australian Securities Exchange (ASX) today that it had acquired specialist Australian equities manager, Airlie Funds Management and Magellan’s distribution partner in North America, Frontier Partners Group.
Airlie was founded by John Sevior and David Cooper in 2012 with Matt Williams joining in 2016.
Airlie and Magellan now intend to launch the Airlie Industrial Share Fund which will be an Active ETF quoted on the ASX.
Where the Frontier Partners acquisition is concerned, Magellan chief executive, Hamish Douglass said it represented a natural evolution of the relationship.
Recommended for you
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.
Betashares has extended its partnership with platform AMP North to create a targeted geared retirement series utilising internally geared ETFs.
Global X’s third gold-focused ETF in Australia has hit the ASX for financial advisers and investors seeking an alternative way to access the commodity.
