Andrew Hair

Global asset manager Acadian Asset Management LLC (Acadian LLC) has agreed to purchase Colonial First State Investments Limited’s (Colonial First State’s) 50 per cent holding in Acadian Asset Management Australia Limited (Acadian Australia) to make Acadian Australia a wholly owned subsidiary.

Acadian LLC and Colonial First State will maintain a strong relationship, with Acadian Australia appointing Colonial First State as sole distributor of its investment strategies to the Australian retail market. In addition, Colonial First State will remain as Responsible Entity for the Acadian Australia Funds.

Acadian LLC’s purchase will further align Acadian Australia’s investment and client service teams and systems to its core operating model around the world.

Acadian Australia was established in 2005 as a joint venture between Acadian LLC and Colonial First State to manage Australian equity portfolios using the Acadian quantitative process. Since 2012, Acadian Australia has also conducted institutional business development in Australia for Acadian LLC’s global business. In 2013, Acadian Australia’s Head of Investments, David Walsh, was appointed to Acadian LLC’s Global Investment Policy Committee.

Acadian Australia Chief Executive Officer Andrew Hair will continue to lead the local operation and will remain a member of the Acadian Australia Board.

Churchill Franklin, Acadian LLC’s Chief Executive Officer, said: “We’re delighted with the development of the Acadian business in Australia under the stewardship of Andrew Hair. Since 2012, the assets under management of both Acadian Australia’s equity business and Acadian LLC in Australia have more than doubled to around A$4.5 billion.”

“We continue to offer our clients strong – and often tailored – investment solutions for their requirements. Our 100 per cent ownership of Acadian Australia means our clients will benefit from the increased alignment with Acadian around the world but will also enjoy ongoing support from Colonial First State in the Australian retail investment market,” Mr Franklin said.

Linda Elkins, Executive General Manager of Colonial First State, said: “The joint venture with Acadian in Australia has been successful over the past 10 years. We look forward to continue providing Acadian’s market leading capabilities to the Australian retail market.”

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