Fund Company Update

Equipsuper and BOC Super, Toyota Super to merge

BOC Super is to merge into Equipsuper after a decline in member numbers created new challenges. Equipsuper is also merging with Toyota Super.

Aware Super looking to merge with VISSF

A Memorandum of Understanding has been signed between Aware Super and the Victorian Independent Schools Superannuation Fund (VISSF) to see if a merger might be on the cards. The rising costs of compliance and the benefits of scale are alluring to smaller funds.

Yarra Capital buys Nikko AM Australian business

A binding agreement has been entered into between Yarra Capital and Nikko Asset Management whereby Yarra will buy Nikko’s Australian asset management business, Nikko AM Limited and bring back the Tyndall name, returning the brand to its foundation branding. Yarra will acquire Nikko AM Limited and its associated entities. The transaction remains subject to regulatory approvals and is expected to close in April 2021.

The Tyndall franchise will remain separate from Yarra’s Australian equities business, with no crossover in investment management activity and no change to its value investment philosophy, process or team.

Fullgoal Asset Management enters the Australian market from China

A Chinese equity and fixed income investment manager is entering the Australian and New Zealand markets. Fullgoal has investment teams in Shanghai and Hong Kong, with AU$200 billion in assets under management, mostly from Chinese and global institutional investors. The company is using 3PD, an Australian-based third-party distribution company to gain access to the market.

Fidante joins forces with Japanese asset manager

Nomura Asset Management and Challenger’s multi-boutique business have partnered, with Nomura supporting Fidante’s Japanese goals, and Fidante supporting Nomura’s Australian goals.

Vocus Group to be acquired by Aware Super and Macquarie

The Vocus board has unanimously recommended that its shareholders accept the proposal for Aware Super and Macquarie Infrastructure and Real Assets (MIRA) to acquired Vocus. A $4.5 billion agreement has been entered into with the consortium. MIRA made a bid alone in February 2021, with Aware Super joining the deal.