Planning group Australian Financial Services (AFS) has renewed its contract with portfolio specialist Oasis Asset Management (Oasis).
Oasis has grown by more than a third in 12 months due to its clients’ success, managing director Wayne Lowe said.
The North Sydney-based superannuation master trust and investment portfolio wrap provider has eight clients with more than $4.5 billion in funds under management.
“Oasis has grown 35 per cent in the last 12 months. It has been quite a fast trajectory,” Lowe said.
“We still see the potential [for growth] within existing client’s groups – we are growing as they grow. We want to be the benefactor of that.”
AFS announced yesterday it will continue its seven year administrative agreement with Oasis.
Oasis administers an employer superannuation product, baby wrap and term allocated product for the Melbourne dealership.
AFS has direct influence over product development and pricing structure of its Oasis software. These were key factors in the decision behind the contract renewal, AFS group chief executive officer Peter Daly said.
The AFS Strategy Portfolio superannuation fund has $1.4 billion in funds under management.
Financial Planning and Life, Infocus Money Management, Mariner Financial, Matrix Planning Solutions, Professional Investment Services, Total Financial Solutions Australia and Wealthtrac are also Oasis clients.
In March 2006 ING Australia, a joint venture between ING Group and ANZ, acquired a 73 per cent shareholding in Oasis.
