Mon, Apr 23, 2018
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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its