HFA Asset Management looking for brand clarity
HFA Asset Management (HFA) has responded to last week’s statement from the board of HFA Accelerator Plus (HAP) regarding the two companies’ disagreement over the use of the HFA brand.
The brand discussion is just one part of broader complications between the two companies, which also traverse fees and a possible termination of the management agreement.
HFA said it first wrote to the board of HAP in July this year, requesting the company ask shareholders to approve a change in the company name at the annual general meeting on November 20.
A statement from HFA said the name ‘HFA’ is “currently used by HFA Asset Management, an Australian-based funds management company and distributor of financial products, and HFA Holdings Limited, a listed holding company”.
The statement from HFA said the rationale behind the name change request is that HAP is an independently governed legal entity, “and its use of the trademarked HFA name continues to generate confusion among investors and the broader financial community”.
HFA has an ongoing management agreement with HAP, however, this may be terminated as a result of discussions currently taking place between the two boards. It’s unclear what has triggered the change in outlook, although HAP did indicate the two boards were in disagreement over management fees.
HFA said it would “continue to adhere to its management agreement with HAP, and work with the Board of HAP, to find a solution which minimises the impact on HAP’s shareholders”.
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