Astarra Asset Management reaches $1 billion FUM milestone
Sydney-based asset manager Astarra Asset Management has reached a milestone, managing $1 billion dollars of investors' assets, according to chief executive Shawn Richard.
Richard said much of Astarra's recent growth has been generated by growing interest from financial planners in its flagship multi-sector diversified funds (conservative, balanced and growth).
He said Astarra has recently formed several partnerships with dealer groups wishing to outsource the investment management for their clients.
"Financial planners and dealer groups are gravitating towards outsourcing the asset management part of their business to dedicated multi-asset managers.
"This is a result of planners coming under client pressure to show evidence of having the necessary skills and experience to build, manage and monitor their clients' investment portfolios."
Richard added that Astarra's "growth momentum has accelerated" due to its ability to weather the recent global financial crisis.
"Our biggest point of difference is not the managers we select but our investment philosophy, backed by an investment mandate with more flexibility, which gives us the best chance to execute on our risk/return objectives.
"We pride ourselves on having a structure that allows us to form a view and to invest according to those views, and also to move quickly out of certain deteriorating asset classes."
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