Fund Company Update

Blacktower launches in Australia

Global wealth manager Blacktower Financial Management Group has launched a presence in Australia. The firm is offering holistic financial solutions for expats and Australian residents.

Skybound launches in Australia

UK advice firm Skybound Wealth Management has set up an office in Australia for British expats needing cross-border financial planning. There are a reported 1.2 million British expats living in Australia. Skybound Wealth Management was formerly known as Guardian Wealth Management, acquired in 2021.

abrdn launches Sustainability Group

Global wealth manager abrdn has launched a dedicated business division, Sustainability Group, to offer expert advice to the investment teams, standards development and product design.

Amanda Young, former global head of responsible investment, has been announced as the leader of the new division. Danielle Welsh-Rose is the new head of sustainability APAC and head of sustainability specialists.

HESTA takes Australian equities team inhouse

HESTA has recently moved its Australian equities team inhouse and it is now actively investing. The team manages around $300 million in member funds, with plans to bring cash and fixed interest in-house also. The industry fund is aiming for a hybrid model of in-house fund management and external mandates.