OnePath has appointed PIMCO to manage its diversified fixed-interest funds.
Through OnePath, PIMCO will offer a combination of domestic fixed-income, global fixed-income and high-yield credit funds, providing advisers and their clients access to a range of actively-managed fixed-income strategies.
"The OnePath mandate represents a significant win for PIMCO and further expands our footprint in the Australian retail market," PIMCO head of Australia John Wilson said.
"Australia represents a key market for PIMCO and this mandate further reinforces the presence of the world's largest bond manager and the growing opportunities for Australians to more actively invest in fixed-income assets."
PIMCO said the agreement would significantly broaden the company's distribution capabilities to the four ANZ-aligned dealer groups: ANZ Financial Planning, RetireInvest, Millennium3 and Financial Services Partners.
The companies did not want to disclose the value of assets under management involved.
In October 2011, UBS acquired ING Investment Management, which previously managed the diversified fixed-interest mandates.
