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Tuesday, 23 April, 2024: Global investment manager, First Sentier Investors, today announced changes to its investment capabilities within Australia.
First Sentier Investors’ strategy is to drive business growth by providing a range of high quality and differentiated investment offerings to meet the evolving needs of its clients, including through organic and inorganic investment.
David Allen, Global Head of Investment Management, said: “Our growth strategy requires us to have a clear focus on capabilities that are most relevant to our clients and where possible, simplify our business.”
Mr Allen cited shifting industry dynamics such as client consolidation, internalisation of investment management and ongoing margin pressures as impacting the outlook for investment businesses.
“We have looked across our business in Australia to ensure each of our investment capabilities has sufficient client demand to be commercially material and sustainable. As a result of this, we have made the difficult decision to close four of our Australian-based investment teams: Australian Fixed Income, Global Credit, Equity Income and Emerging Companies.
“While these teams have delivered strong client outcomes over a long period of time, they have been unable to achieve growth that meets our ambitions.
“We will work closely with our clients over the coming months to support them during this transition,” Mr Allen added.
First Sentier Investors is confident in the prospects for its remaining investment teams and is committed in supporting their growth paths.
Mark Steinberg, Chief Executive Officer stated: “We will continue reviewing opportunities for growth, seeking to add additional global and regional capabilities over time, which are aligned with clients’ evolving needs.”
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About First Sentier Investors
First Sentier Investors is a global asset management group providing high quality, differentiated and relevant investment capabilities to deliver exceptional investment performance for our clients. Today, across the First Sentier Investors Group, we manage A$238 billion1 in assets across global and regional equities, cash and regional fixed income, infrastructure and property, and alternative credit.
We are home to investment teams and brands such as AlbaCore Capital Group, FSSA Investment Managers, Igneo Infrastructure Partners, RQI Investors and Stewart Investors. All investment teams operate with discrete investment autonomy, according to their investment philosophies and based on responsible investment principles.
Our organisation was acquired by Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc in August 2019. We operate as a standalone global investment management business with offices across Europe, the Americas, and Asia Pacific.
We are a globally Certified B Corporation and signatory to the UK Stewardship Code.
For more information, visit www.firstsentierinvestors.com
1 First Sentier Investors’ gross AUM, inclusive of associated strategic partnership with AlbaCore Capital Group, as at 31 December 2023.
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