Standard & Poor’s Fund Services today stated that ANZ Bank’s acquisition of the Optimix multi-manager business unit from UBS Global Asset Management (UBS Global AM) has not affected the ‘On Hold’ ratings of the multi-sector funds in the Optimix suite.
These were formerly managed by ING Investment Management (Australia).
UBS Global AM acquired Optimix in June 2011 as part of its acquisition of ING Investment Management (Australia). ANZ Bank’s subsequent purchase of Optimix is part of its broader strategy to offer a suite of multi-manager single sector and multi-sector funds.
Our fund ratings of multi-sector products available through Optimix will remain ‘On Hold’ pending our formal review of these capabilities.