Australian Unity Investments (AUI) has reached funds under management (FUM) of $10 billion, an increase of 85 percent since the beginning of 2009.
Mr David Bryant, head of AUI, said that achieving this significant milestone was a result of considerable and consistent growth in FUM since 2004, when Australian Unity focused on expanding its investment management businesses under its joint venture strategy.
“Since that time, when AUI had $2.3 billion under management, FUM has more than quadrupled. This substantial growth has been achieved largely through the ongoing success of individual funds and our joint venture businesses.
“Our FUM had reached $6.8 billion before the global financial crisis hit, so we continued to achieve strong growth despite the most difficult period for investment markets in many decades. The support from institutional and retail investors has been a significant contributor to our growth, and we are looking to build further upon this.
“Another recent factor contributing to the increase in FUM was the merger with Lifeplan Funds Management, which added $1.5 billion.
“The outlook for the funds management sector remains promising, and AUI is particularly well-placed to take advantage of this, with all our asset classes performing well and two of our joint ventures – Wingate Asset Management and Seres Asset Management – only now preparing to enter the retail market. Wingate is in the process of launching its funds and Seres, which was formed in September this year, aims to open its Asian equity fund to investors in the first quarter of 2010.
“While the past two years have been very difficult for all participants in the financial services industry, there have still been excellent long-term opportunities for those in a position to make the most of them.
“Overall, the industry is well-placed to help investors as long as the lessons of the recent past are learnt. Organisations that have managed to get through the chaos relatively unscathed, who have a sound business model and retain the trust of investors, now find themselves in a very good position.
“However there is still a note of caution. Markets are still fragile and investors remain cautious but the indications are that they are slowly returning to investment markets,” Mr Bryant said.
Australian Unity Investments is the funds management arm of financial services, health and retirement living services provider Australian Unity. It has over $10 billion in funds under management (as at 18 November 2009). Its investment approach is to use its established in-house expertise in property and mortgages while also forming joint ventures and strategic alliances with other organisations with specialist expertise.
Its established joint ventures are Acorn Capital (Australian equities microcaps), Vianova Asset Management (fixed interest), Platypus Asset Management (Australian equities), Wingate Asset Management (international equities) and Seres Asset Management (Asian equities). It also has two wholly owned asset management businesses in property and mortgage funds, and an investment bonds business, operating as Lifeplan, which is the market leader in Australia.
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For more information please contact:
Mr David Bryant
Phone: 0412 008 184
Email: dbryant@australianunity.com.au