Aurora starts with distribution
Aurora Funds Management (AFM) — the brainchild of formerChallenger Internationalexecutives Alistair Davidson, Simon Lindsay, Hugh Latimer and Richard Matthews — came into existence back in May 2003.
The group is yet to release any funds to market, but, according to Latimer, has been successful in growing distribution capabilities during its first six months of operation.
Last November, AFM unveiled a new initiative — Aurora Distribution — to assist fund managers and investment product manufacturers without access to strong distribution channels in gaining access to retail investors. Shortly after, the group struck a deal withvan Eyk Researchand White Funds Management (WFM) in relation to the distribution of Granite Three Pillars — a listed investment company (LIC) scheduled to float this month.
Latimer says AFM provides third-party adviser distribution to firms with limited access to this part of the industry. He adds that this enables AFM to also assist companies during initial public offerings (IPOs) to access potential shareholders.
He says the distribution business is “a natural fit” for the group, which is also contemplating other launches.
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