Australian fund manager opens doors to NZ
Bennelong Funds Management has opened its funds to New Zealanders to invest in directly.
Monday, February 13th 2017, 5:59AM
The Australian fund manager has more than A$8 billion under management in Australia, in 11 funds.
Nine are open to new investors.
New Zealanders are now able to invest in three Australian equities funds, one global real estate option, a global infrastructure fund and an absolute return fund, Kardinia Capital.
“There is a strong appetite for Australian funds in New Zealand and our suite of products not only offers diversification but also innovation,” said Bennelong’s chief executive, Craig Bingham.
“It’s a really exciting time here at Bennelong. Due to the success of our boutiques and their funds in the Australian market, we are expanding our distribution footprint on a global scale, including Europe, with the opening of the BennBridge office in London, and the exploration of business opportunities in the United States.”
Andrew Aitken, head of distribution, said there had been a number of requests from New Zealand investors for easier access to Bennelong's funds.
“This is the first stepping stone, we hope for further expansion into New Zealand in future.”
It had been identified as an area of opportunity for the fund manager, he said.
The absolute return product was expected to be the most popular with New Zealand investors.
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