Commenting on the announcement today (16 November) that Nikko Asset Management (Nikko AM) will acquire Tyndall Investments, Australia and New Zealand from Suncorp, Mr Craig Hobart, who has been confirmed by Nikko AM as Managing Director of Tyndall Investments, said that it is an ideal outcome for Tyndall Investments, its staff and clients.
“The acquisition of Tyndall Investments by Nikko AM further strengthens a leading asset management operation in Australia and New Zealand that has over AU$25 billion in combined funds under management, keeping the business and team intact and retaining the highly-regarded Tyndall Investments brand and investment approaches.
“The Tyndall Investments management team in Australia has participated in the strategic review process, and fully endorses the outcome.
“Throughout the process, the Tyndall investment teams have remained focused on managing client portfolios and continue to be highly rated by the research community for their approach, process and performance track record.
“We look forward to building on the momentum the acquisition generates and the opportunities created from a major international asset management parent which has a strong pan-Asian presence and an aligned business capability and focus,” Mr Hobart said.
Nikko AM is one of the largest asset managers in Japan with US$120bn in mutual funds and institutional accounts, is owned by the Sumitomo Trust & Banking Co. Ltd and Nikko AM employees, and is recognised as a strong and stable company.
Tyndall Investments offers Australian and international equity, Australian and international equity fixed interest and global premia funds in Australia, and has AUS$22 billion in funds under management.
Mr Bob Van Munster, Head of Tyndall Australian Equities, said that the equity team couldn’t be more pleased with the outcome.
“It allows us to retain our highly regarded approach and investment style and we are looking forward to a future with a partner that is focused on asset management.
“Having Nikko AM as our new parent provides us with direct investment insights into one of the fastest growing regions in the world, which is increasingly considered the major economic influence on Australian investment markets.”
Mr Roger Bridges, Head of Fixed Income, added that it is an outstanding result for the Tyndall fixed income team.
“Despite a difficult environment for fixed income managers over the last 12 months, we have continued to generate consistent returns for investors through a measured approach that helps manage risk.
“We have a strong track record in fixed income management that has proven itself throughout different market cycles and economic conditions, and with Nikko AM as our new parent we can build on this strength while continuing to provide the benefits of our capabilities to Suncorp as our cornerstone client.”