Ashburton Investments, the asset management arm of the FirstRand Group, has entered into a strategic partnership with Fidelity International, a global asset manager with US$324bn assets under management.
The partnership, which applies to Ashburton Investments’ international multi asset funds* totalling US$850m, combines Ashburton Investments’ longstanding heritage in managing multi asset portfolios with Fidelity International’s highly experienced and research-focused multi asset team.
The funds’ investment objectives remain unchanged, with Ashburton Investments maintaining responsibility for global macro views, tactical asset allocation and client distribution. This enhanced offering sees Fidelity International’s multi asset team provide advisory services on security and fund selection, as well as support and implementation of asset allocation decisions. Strategic asset allocation is driven jointly by both firms.
Boshoff Grobler, CEO of Ashburton Investments, said: “Ashburton Investments’ existing international multi asset funds have long been an attractive offshore diversification strategy for South African investors with consistent inflation-beating returns.
“In the face of changing global business models in an increasingly complex world, we believe we can further enhance the quality of our funds by teaming up with a global strategic partner with a market-leading research capability and specialist knowledge in global asset allocation and security selection.
“Fidelity International is the perfect culture and knowledge fit for us. We are very excited to be working with them as an extension of Ashburton’s investment team.”
Jeff McCarthy, Chief Strategy Officer of Ashburton Investments, said: “With access to Fidelity’s global research network and expertise, Ashburton Investments will continue to build on our 36-year track record in global investing. This will allow us to create an even better offering for our investors.”
James Bateman, Chief Investment Officer for Fidelity Multi Asset, said: “This strategic partnership with Ashburton Investments reflects the depth of both of our firms’ ambitions in offering clients world class investment portfolios which truly reflect their needs. I am pleased Ashburton has recognised Fidelity’s multi asset business as the ideal partner to deliver premier investment solutions for their clients, particularly our leading asset allocation, strategy research and security selection capabilities, and our ability to work in close collaboration with our clients.”
*Funds in scope: Jersey domiciled Asset Management Funds, Luxembourg domiciled Global Multi Asset Funds, and South African domiciled Ashburton Global Flexible Fund. AUM as at 31 March 2018.
About Ashburton Investments
Ashburton Investments is a leading provider of innovative investment solutions, and is the asset management business of the FirstRand Group, one of Africa’s largest financial services companies. It has over R99 billion assets under management (as at 31 March 2018) and offices in South Africa, the United Kingdom and Channel Islands.
About Fidelity International
Fidelity International offers world class investment solutions and retirement expertise. As a privately owned, independent company, investment is its only business. Fidelity International is driven by the needs of its clients, not by shareholders. Its vision is to deliver innovative client solutions for a better future. Fidelity International invests $324.5 billion globally on behalf of clients in 26 countries across Asia-Pacific, Europe, the Middle East, and South America. Its clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals. In addition to asset management, Fidelity International offers investment administration and guidance for employer benefit schemes, advisers and individuals in several countries. Fidelity International is responsible for $106.2 billion in assets under administration. Data as at 31 March 2018.
Contact people for each firm
Ashburton Investments: Ashburton Investments: Grant Henry on +27 82 561 7172 or email@example.com
Fidelity International: Craig Terrington on +44 207 074 5811 or firstname.lastname@example.org