Ashburton Investments, the asset management arm of the FirstRand Group, has entered a strategic partnership with Fidelity International, the USD324 billion global asset manager.
The partnership applies to Ashburton Investments’ longstanding international multi asset funds – which have USD850 million of assets under management. Under the partnership, the two firms says that Ashburton Investments will benefit from the expertise of Fidelity International’s highly experienced and research-focused multi asset team in the management of its funds.
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, says: “Ashburton Investments’ multi asset funds have long been an attractive diversification strategy, having delivered consistent inflation-beating returns for investors.
“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 partnering with Fidelity International. Fidelity’s market-leading research capability and specialist knowledge in global asset allocation and security selection, significantly strengthens our proposition.
“Importantly, Fidelity International is the perfect culture and knowledge fit for us and 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, says: “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, says: “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.”
