Magellan Asset Management is set to expand its offshore reach after signing a deal with fund distribution specialist Frontier Partners.
The move would allow Magellan to deliver its flagship high conviction global equity and infrastructure strategies to institutional investors in Canada and United States.
“Both global asset consultants and prospective investors have given us very encouraging feedback for our global equity and global infrastructure capabilities,” Magellan chief executive Hamish Douglass said.
“As Magellan builds a global business the deep experience and outstanding reputation of the Frontier principals has provided Magellan with the confidence that they will be an excellent partner to assist in building our profile and growing our service offering in North America.”
The strategies would be delivered to clients via separate accounts and institutional mutual funds to be established in the US, Magellan head of institutional clients Matthew Webb said.
“Frontier was looking for a new global equity manager to represent in North America and Magellan fitted the bill for them,” he said.
The flagship Magellan Global Fund invests in shares of multinational bluechips with attractive growth profiles and market leading positions in emerging and developed markets including Nestle, Yum Brands, Coca-Cola and Procter & Gamble.
Frontier also has deals with firms including United Kingdom emerging markets specialist HEXAM, Canadian international value equity manager Sky Investment Counsel and Timpani Capital, which focuses on small cap growth.
“We are very excited to work with the team at Magellan,” Frontier partner and founder Bill Forsyth said.
“Their global equities and global infrastructure products incorporate a thoughtful approach to both return and risk. Moreover, their global equity product offers concentration while still emphasising capital preservation.”
“We are confident that such unique offerings will be well-received by North American investors.”
