The sale of the $10 billion multi-manager business OptiMix to ANZ seems to be on the cards after UBS Global Asset Management (UBSGAM) Australia agreed to acquire ING Investment Management (INGIM) last week.
An industry source said early discussions had already been held about the sale of OptiMix to ANZ and the transaction was a "done deal".
But UBSGAM Australia and New Zealand head Ben Heap said no decision had been made yet, although he left the door open to the possibility of a sale.
"[OptiMix] is part of what we are acquiring," Heap said.
"We haven't made any decisions along those lines, we've just bought the business, albeit the context of our relationship with ANZ is such that we are going to sit down and talk sensibly with them about where different aspects of the business should best fit.
"There [are] a number of different parts, which we just need to think about how [they would be] best structured. So, for example, OptiMix, its primary client is ANZ and so ANZ has very much a vested interest in that business. We will work with them on that."
OptiMix is a multi-manager research and investment business with about $10 billion in funds under management and was established more than 10 years ago.
ANZ wealth management business OnePath Funds Management is the responsible entity for the OptiMix funds, while OnePath has a licence agreement with ING Group to use the brand.
