Sat, Apr 25, 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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Hedge funds looking to continue their rally in Q2[more]

    Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week

  4. Hedge funds down -0.17% in March (+1.23%YTD)[more]

    Bailey McCann, Opalesque New York: The hedge fund industry produced an aggregate return of –0.17% in March to end Q1 2015 up 1.23%, compared to the S&P 500 which increased 0.96%, according to the latest data from eVestment. Hedge fund performance returns were mixed in March amid increased equity

  5. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

 

banner