Zenith buys asset allocation specialist
Zenith Investment Partners has announced the acquisition of asset allocation specialist, Heuristic Investment Systems, from its management.
Under the terms of the deal, the Heuristics team would join as a separate business unit managed by Heuristics chief executive and director, Damien Hennessy, reporting directly into Zenith’s chief executive, David Wright, with the aim of having the team sitting within the Zenith business by the end of the month.
Heuristic had offered investment strategy and asset allocation consulting services to its wholesale clients since 2003, through its proprietary StrategyEngine platform, which provided an objective and data-driven dynamic asset allocation service to its clients.
Hennessy said they were looking forward to working with the Zenith team on expanding their offering and its availability to varying clients.
Wright said they had known Hennessy for some time and recognised his unique skills and those of the team in developing and executing on strategic and tactical asset allocation strategies.
“They’ll be an excellent complement to the current suite of services offered to our broadening client base,” Wright said.
He also stressed that since Zenith’s acquisition of Chant West in mid-2020, the business had continued to explore opportunities to expand their service offering for clients, across the wealth management and superannuation markets.
“With ongoing change impacting advisers, super funds and platforms, including their clients and members directly, we believe proven providers of relevant services, at scale, will continue to be a valuable relationship for professionals across the market,” Wright said.
AUTHOR
Oksana Patron
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