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Laxman Pai, Opalesque Asia: Australian investment manager AMP Capital has carved off the global equities business of its asset management unit and agreed to offload it to Canadian investment manager Fiera Capital.
As part of the deal, Global Companies Fund, which has over $500m in assets under management, will be transferred to Fiera Capital.
Besides, a four-member investment team from AMP will also join Fiera Capital, said a press release.
Lead Portfolio Manager Simon Steele and Investment Manager Neil Mitchell are based in London, and Investment Managers David Norton and Andy Gardner are based in Hong Kong and Sydney, respectively.
The managers will move across with their existing Ucits-compliant fund platform, which includes the AMP Capital Global Companies Fund. This change in structure is still subject to regulatory approval, and Fiera and AMP have pledged to work together during the transition period.
Jean?€'Philippe Lemay, Global President and Chief Operating Officer of Fiera Capital said: "The team is a perfect fit with the Company, sharing in our client-focused culture and dedication to investment excellence. What's more, the acquisition of a Global Equity capability-based outside of North America builds on our global ambitions of building robust investment platforms in markets where we see growth opportunities."
The AMP Capital Global Companies fund has outperformed its IA Global sector average over one and three years and is approaching its fou...................... To view our full article Click here
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