CSFGAM offers one global infrastructure pie fund in New Zealand.
The bank conducted a strategic review of the investment management business and considered a range of options.
It said it examined the long-term shareholder value and the ability of the business to serve the interests of its clients, attract and retain key personnel and grow the business.
“CFSGAM has achieved significant growth, scale and diversification under the current ownership structure, the strategic review determined that an independent ownership model would provide great benefits.”
CSFGAM chief executive Mark Lazberger said it was a positive announcement.
“It provides certainty around the future direction of our business. We believe a change to our ownership structure will have a beneficial impact on the services we provide to you, our clients. While this is a period of change for us, it is business as usual in terms of our focus on our responsibilities as long-term investors and stewards of your capital.
“We do not expect our broad investment philosophy and those of our various investment teams to change. We do however believe there will be greater opportunities to align our company performance, investment performance and team incentives as a stand-alone entity.
“We are firmly focused on adding value to our clients’ portfolios and, with access to independent sources of capital after an IPO, we are looking forward to further developing our investment capabilities.”
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