Ignis Asset Management and Tyndall Investment Management have formed a strategic alliance in Australia.
Under the terms of the agreement, Ignis will sub-advise investment strategies exclusively with Tyndall AM into the institutional market in Australia.
Tyndall AM, based in Sydney, manages approximately GBP13.9bn of assets on behalf of institutional, insurance and private wealth clients in Australia. It is part of Nikko AM, an independent fund manager in Asia headquartered in Japan.
Initially, Tyndall AM will offer Ignis’ Absolute Return Government Bond strategy and Liability Driven Investment (LDI) solutions to institutional investors. Tyndall AM may also consider other Ignis investment strategies, such as emerging market debt, as part of its multi-manager and World Series Fundä platform offerings in future.
Ignis Asset Management is a part of Phoenix Group, the UK’s largest closed life and pension fund consolidator, and has approximately GBP67.6bn of total assets under management.
Allan MacLeod, head of global accounts at Ignis, says: “At nearly GBP1 rin, the Australian pension market is the fourth largest in the world due to the compulsory superannuation savings requirement and is an attractive market for Ignis where our expertise and heritage in managing life insurance and pension fund accounts is especially well suited.
“Australia is a key strategic objective for us. We felt that working with a strong local partner was the most attractive way of accessing it.
“We look forward to working with Tyndall AM, one of the most respected investment managers in Australia. Tyndall’s understanding of the requirements of local institutions, including insurance companies, and their considered approach to client service makes them a natural partner for us.”
Mike Davis, managing director of Tyndall AM, says: “A strategic alliance with Ignis Asset Management is a good fit for Tyndall AM. Ignis is a forward thinking and progressive business with a strong product range and a rich insurance asset management heritage in the UK and Europe.
"This strategic alliance with Ignis further complements our objective to add local and international product solutions to meet the demand we are seeing from our client base.
“Initially, Ignis has chosen to focus its offering around its core strengths in fixed income absolute return and LDI, disciplines in which Ignis takes an innovative approach and has a strong track record. Consequently, in addition to our own strong offerings in a range of asset classes, we can now add international investment strategies that we believe will be attractive to Australian institutions.”