Australia’s Fidante Partners acquires interest in MIR Investment Management
Australia’s Fidante Partners has secured its 11th boutique firm, MIR Investment Management, following the acquisition of the stake held by Michael Triguboff.
Fidante Partners is part of Challenger, an Australian financial services firm listed on the Australian Securities Exchange. The Fidante Partners division forms long-term alliances with investment professionals to create, grow and support specialist, boutique funds management businesses.
Since the establishment of the first boutique firm in 2005, Fidante Partners has grown to form alliances with ten boutique funds management businesses. As at 31 December 2011, it has more than A$17.8bn (€13.9bn) of assets under management after experiencing new inflows of A$614m for the quarter.
Established in 2003, MIR has funds under management of $1bn and specialises in the wholesale funds management of Asia-Pacific (ex Japan) and Greater China equities strategies.
It manages a number of institutional funds as well as discrete investment portfolios and clients, including leading international and European distributors of managed funds, European pension funds and Australian institutions.
MIR fields a team of 16 investment professionals in Singapore, Melbourne and Sydney. John Beggs and Kenny Tjan have been appointed chief executive and chief investment officer, respectively. The investment team and day-to-day management remain unchanged.
Beggs said joining forces with Fidante Partners will allow MIR to focus on achieving best outcomes for clients while maintaining a strong operational backbone.
Rob Woods, Challenger’s chief executive, and responsible for fund management, said: “MIR’s expertise in Asian equities and the global appeal of its product suite fitted Fidante’s strategic objective to develop international products for both domestic and off-shore investors.”
Fidante Partners will provide MIR with institutional-grade administration, client service, marketing and distribution services, freeing the investment team to focus on investment performance.