Sat, May 30, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Select Asset Management acquires Total Fund Services

Thursday, December 13, 2012

Brendan Foley
Opalesque Industry Update - Specialist investment management group Select Asset Management Limited announced the acquisition of Australian financial services business Total Fund Services (TFS) for an undisclosed amount.

TFS provides specific regulatory services to Australian managed investment schemes, acting as a ‘responsible entity for hire’ to registered schemes and similar investment vehicles. The business will be integrated into Select Fund Services (Select FS) headed by Mr. Alex Wise.

“We are pleased to announce the strategic acquisition of TFS,” said Select Asset Management Chief Executive Officer Brendan Foley.

“The addition of TFS highlights our intention to open up the inherent skills and experience that resides within our firm. Our vision is to leverage Select’s core principles of investor focus, investment rigour and original thinking to continue building an end-to-end, integrated investment management business,” Mr. Foley said.

“The pivotal part of this model is Select Investment Partners (Select IP), our specialist asset management arm led by Dominic McCormick. Select IP recently celebrated its 10th year of successful investing in Australia,” he said.

Mr. Foley said the TFS acquisition brings with it a number of high-profile financial services firms for which TFS acts as Responsible Entity (RE). The client list includes venerable brands Clime Investment Management, Man Group’s FRM and Yellow Brick Road.

Head of Select FS Alex Wise said funds services is a natural extension for Select given its reputation, client-focused principles and compliance standards.

“We take the business of investing other people’s money seriously, knowing that we operate in a highly complex regulatory environment. But we think differently about the challenges and opportunities facing investors today. Our track record clearly shows the benefits of responding with innovative product design and a robust due diligence process,” Mr. Wise said.

“We’re ideally positioned to nurture and grow our business, providing third party asset managers a package of ‘RE for hire’ services and distribution services through Winston Capital Partners, our alliance partner. Such asset managers typically focus on managing the money and welcome the support of dedicated experienced professionals to provide support on governance and operational matters,” he said.

Mr. Foley said TFS clients, under the guidance of new owner Select Funds Services, can expect continuing high quality service delivery and peace of mind knowing their fiduciary and regulatory needs are being well met.

The acquisition brings Select FS’ funds under administration to over $850m.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: New TMT hedge fund adopts the long-term approach[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Adam Parker founded Center Lake Capital LLC in New York in November 2014. Before that, he was portfolio manager at Point State Capital (the successor fund to Dr

  2. Regulatory - Hedge funds face tax as Iceland poised to end capital controls, Comment: Why alternatives need more transparency, not enforcement[more]

    Hedge funds face tax as Iceland poised to end capital controls From Bloomberg.com: Hedge funds and other investors who bought claims against Iceland’s failed banks face a tax that targets the lenders’ estates as the government prepares to unveil its plan for exiting capital controls in t

  3. Investing - Nelson Peltz’s Trian Fund Management reduces position in Legg Mason, Biotech investors up big amid bubble talk, Hedge funds increase exposure in healthcare[more]

    Nelson Peltz’s Trian Fund Management reduces position in Legg Mason From Octafinance.com: Trian Fund Management has filled a SC 13D/A form regarding Legg Mason, Inc. Per Nelson Peltz’s Trian Fund Management’s filing, the filler reported decreased stake in the company by -11.05% to 11,03

  4. All hedge fund strategies rebounded last week as market conditions normalize[more]

    Komfie Manalo, Opalesque Asia: After a difficult start this month, all hedge fund strategies ended last week in positive territory, as the Lyxor Hedge Fund Index gained 0.9% (-0.2% MTD, 3.3% YTD). According to Lyxor AM’s latest Weekly Briefing, in t

  5. Billionaire hedge fund investor Odey says April 'bloody', has cut risk[more]

    From Reuters/Yahoo.com: Billionaire hedge fund manager Crispin Odey has cut risk and leverage following a stunning 19.3 percent loss in his 3.1 billion euros (2 billion pounds) Odey European Inc fund in April, a letter to investors seen by Reuters showed. Describing the month as "bloody", Odey

 

banner