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Magellan buys a fund manager

Wednesday, February 7th 2018, 12:00PM

Magellan Financial Group is planning to buy Airlie Funds Management. Airlie is a specialist Australian equities fund manager with more than A$6 billion of FUM, primarily for institutional and high net wealth clients.

Airlie was founded by John Sevior and David Cooper in 2012, with Matt Williams joining in 2016. John Sevior and Matt Williams are two of Australia’s most senior fund managers with long careers in the industry. Airlie and Magellan intend to launch the Airlie Industrial Share Fund which will be an Active ETF quoted on ASX.

“The acquisition brings together two of Australia’s leading funds management businesses," Magellan CEO Hamish Douglass says in a statement. "We have known the Airlie team for many years and consider both John Sevior and Matt Williams to be among the most respected portfolio managers in Australian equities."

“The proposed launch of the Airlie Industrial Share Fund highlights the potential power of the combination of Airlie and Magellan. The Airlie Industrial Share Fund will leverage Airlie’s pre-eminent expertise in Australian equities and Magellan’s operational expertise and distribution strength in the retail and adviser market.”

Tags: ASX Magellan

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