MFS to become fund manager
MFS Pacific is looking to expand its business in New Zealand by adding funds management and possibly advisory services to its operations.
Wednesday, May 17th 2006, 6:47AM
“We are moving out from our traditional finance company role to broaden our scope,” he says.
“These are very exciting times for MFS in New Zealand.” MFS already operates a managed fund business in Australia.
Lane pictured MFS as being like a Macquarie or Babcock and Brown, but doing smaller deals, of up to $200 million, and bringing them to market.
In terms of funds management MFS would look at a range of different asset classes, including equities, property, property development and fixed interest as well as its specialty area of leisure and lifestyle investments.
In this latter area MFS already has a number of unique funds which invest in things like golf courses.
While it would not necessarily manage the assest itself MFS would select appropriate managers for a fund and market packaged products.
Lane says New Zealand is moving closer to Australia in terms of how the industry is run and it can use the skills it has developed across the Tasman in New Zealand. One of the key things is that its business is built around compliance.
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