US asset manager opens first Australian office



US-based asset manager, American Century Investments, has opened its first Australian office in Sydney and appointed Michelle Kidd to the position of vice president, Institutional Advisory Group.
She would report to Elizabeth Trinh, American Century’s head of Australia and New Zealand, based in Hong Kong.
American Century, which is headquartered in Kansas City, said it had US$170 billion in assets under management as of 20 April and approximately A$2 billion in Australian funds under management, from both institutions and platforms.
According to American Century’s chief client officer, Joe Schultz, the establishment of an Australian office was a part of the firm’s further expansion in key markets outside the US, making it the third office outside the country.
“Over the past decade, we’ve seen a strong level of interest in our investment capabilities and approach in the Australian market, which we have been servicing through a team based in Hong Kong,” he said.
“Our Global Growth Equity strategy is well received by current clients and prospects, and we see significant interest in our Global Small Cap and Emerging Market Equity strategies.”
Schultz said the company was also planning to introduce to the region its Emerging Market Debt and Global Fixed Income strategy in the coming year.
Recommended for you
Magellan has closed out the financial year with funds under management approaching $40 billion and outlined its estimated performance fees.
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.