AMP Capital today announced it had reached an agreement with Fiera Capital, a global investment manager headquartered in Canada, for the sale of its Global Companies capability. This includes AMP Capital’s four-strong investment team as well as the intention to transfer across the Global Companies Fund (GCF) UCITS platform series.
AMP Capital and Fiera Capital are committed to ensuring that existing client terms and conditions will not be impacted, and clients experience a seamless experience throughout the transition.
In August 2020, AMP Capital announced the strategy for its Global Equities and Fixed Income (GEFI) businesses to explore opportunities, including partnerships, to increase their scale to accelerate growth.
The GCF, which has assets under management of more than US$500 million, has been in its start-up phase, building a track record using seed capital.
AMP Capital Global Head of Public Markets, Simon Warner commented:
“This agreement delivers on AMP Capital’s strategy to find the best opportunities for our GEFI capabilities to achieve scale and accelerate growth. After being established in 2017, GCF has delivered great returns for our clients and I have no doubt that this will continue under new leadership.”
The proposed transfer of the GCF UCITS platform series is subject to regulatory and other approvals. In the coming weeks, AMP Capital and Fiera Capital will formalise the long-term distribution and management arrangements to best support the AMP Capital Global Companies Fund in Australia and New Zealand.
The consideration to be paid for the Global Companies capability is not material to AMP or AMP Capital.
About AMP Capital
AMP Capital is a global investment manager with A$189.8 billion in assets under management as of 31 December 2020 and more than 250 investment professionals. AMP Capital has a heritage and strength in infrastructure and real estate, and experience in fixed income, equities and multi-asset solutions. AMP Capital is owned by AMP Limited, which was established in 1849, and is one of Australia's largest corporate pension providers.
About Fiera Capital Corporation
Fiera Capital is a leading independent global asset management firm with approximately C$180.2 billion in assets under management as of December 31 2020. The Company provides institutional, financial intermediary and private wealth clients with access to full-service integrated money management solutions across public and private asset classes. Fiera Capital’s depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
